Dollar fell against major currencies as trade talks ended
2019-01-09 08:36 am | Resource: News | No Views : 126
Dollar slipped against some of its counterparts on Wednesday as hopes for progress in the Sino-US trade dispute boosted currencies linked to high-risk commodities.
US, China end trade talks after extension
The Chinese Foreign Ministry said in Beijing on Wednesday that negotiations between middle-ranking Chinese officials and their counterparts from the United States had ended and the conclusions would be known in the near future. The tour ended after being extended for another day. The Ministry pointed to this fact as another sign of progress and stressed that the most populous countries are "very dangerous".
The two sides looked at the solutions to trade disputes and issues raised by the United States regarding their companies' access to China and the protection of intellectual property. Investors were skeptical about the outcome, with authorities in Washington getting Canada to become vice president of Huawei Meng and Enzo for alleged violation of sanctions against Iran and Syria.
Earlier, US President Donald Trump praised the progress made with Beijing on trade. "Talks with China are going very well," he said.
The last round of trade talks between the two countries began in Beijing on Monday and both sides expressed optimism that an agreement could be reached. US Commerce Secretary Wilbur Ross said he saw "a very good chance" that the talks would end in a "reasonable settlement" that the United States and China could "live with" while the Chinese Foreign Ministry said it was ready to resolve trade disputes "on an equal footing."
US President Donald Trump is under pressure from recent financial market turbulence and falling debt demand from the Treasury to fund the deficit.
"There is a good chance that the yen will rise to 100 against the US dollar in the coming months," said former Bank of Japan chief executive Kazuo Moma.
US Dollar Trading
- The euro rose against the US dollar by 0.21% and the euro traded at 1.1464.
- The greenback was down against the pound at 0.19% with the pair trading at 1.2746.
- Against the Yen, the greenback was down 0.08% and the USDJPY is trading at 108.85.
- The franc was up against the US dollar, with shedding 0.07% to trade the franc at 0.9807.
- The greenback was down against the Canadian dollar, shedding 0.27% to trade at 1.3240
Time frame Used - four hours The USD/JPY is moving in a sideway direction in the near term. The bears were able to control the USD/JPY movement after the Fed decided to set the US interest rate to hit at 109.72. In view of the technical indicators Both the RSI and the Stochastic are indicating the arrival of indicators to the oversold area. Therefore, we expect that the USD/JPY will…
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