The dollar does not intend to give in to a general panic. The American rose to a weekly high against the yen as some doubts of investors weakened before the G20 summit in Japan amid hopes for progress in resolving the trade conflict between the US and China. For example, the Hong Kong newspaper South China Morning Post cited sources reporting that the United States and China had agreed on a preliminary armistice on the eve of the meeting of the leaders from the two countries on Saturday on the sidelines of the G20 summit. Prior to this, the currency was supported by US Treasury Secretary Stephen Mnuchin, who said that the US-China trade agreement was "nearly 90% complete."

Investors should also pay attention to the consequences of resolving a trade dispute between the two largest economies in the world. "While the market fluctuates depending on the news headlines about the US and China, the real attention to the G20 summit is focused on China's low economic growth and its impact on the markets. At the same time, if the relations between the US and China improve after the G20, China will most likely no longer rush to measures to model its economy," said Makoto Noji, SMBC Nikko Securities. In addition, the outcome of the summit will affect the position of the Fed, which so far opened the way to a possible easing of monetary policy in the coming months.

"The potential implications of the Trump-C meeting for US monetary policy are enormous. If both parties agree not to impose additional tariffs, the Fed will no longer need to cut rates. On the contrary, if negotiations lead to the introduction of a larger number of tariffs, this may push some officials to lower interest rates", assured by Masafumi Yamamoto of Mizuho Securities.