June 24, 2019 / 4:23 PM / in 25 days

Dollar pares gains vs yen after Trump says to impose sanctions on Iran

FILE PHOTO: A trader shows U.S. dollar notes at a currency exchange booth in Peshawar, Pakistan December 3, 2018. REUTERS/Fayaz Aziz

NEW YORK (Reuters) - The dollar trimmed its earlier gains versus the yen on Monday after U.S. President Donald Trump said the United States will impose new sanctions on Iran in response to Tehran’s downing of a U.S. drone last week.

At 12:08 p.m. (1608 GMT), the greenback was up 0.08% at 107.39 yen. On Friday, it touched its lowest level since early January against the Japanese currency, which is seen as a safe-haven for investors in times of geopolitical turmoil.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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