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Dollar weakens

Ag Reuters

TOKYO: The dollar fell on Wednesday as sources said Canada was ready to make a concession to the United States to resolve their talks over reworking the North American Free Trade Agreement, though lingering anxiety over U.S.-China trade tensions weighed.

China will ask the World Trade Organization next week for permission to impose sanctions on the United States for Washington´s non-compliance with a ruling in a dispute over U.S. dumping duties.

"Worries about many things are still lingering so it becomes hard to shift to a mood of aggressive risk taking," said Kumiko Ishikawa, senior analyst at Sony Financial Holdings.

"The dollar/yen rose yesterday, but those gains are gradually coming off as there isn´t a lot of appetite to take risk," she said.

The dollar traded slightly lower after two Canadian sources with direct knowledge of Ottawa´s negotiating strategy said overnight Ottawa was ready to offer the United States limited access to the Canadian dairy market as a concession in negotiations to remake NAFTA. Canada´s protected dairy industry is a major sticking point in NAFTA talks between the two countries.