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Dollar is losing ground against major currencies after a series of gains

2019-02-13 08:46 am | Resource: NEWS | No Views : 78


 
The dollar fell in European trading on Wednesday as demand for safe haven assets weakened, with signs that the US federal government will not close again this year.

Trump: Wall being built "regardless of money"

US President Donald Trump has announced that the spending bill approved by lawmakers will include $ 23 billion for border security. He added that the wall was still being built on the Mexican border, despite reports that only $ 1.4 billion had been allocated for its construction.

"The concept and concept of a border security deal has been presented by hard-working Senator Richard Shelby, who is looking at all aspects knowing that this will be linked to a lot of money from other sources, he will get nearly $ 23 billion for border security. , Being built as we speak! "Trump wrote on Twitter. The president has yet to sign the bill, which would prevent the government from closing on Friday. He said on Tuesday he was unhappy with the deal, because he had previously insisted on allocating more than $ 5 billion to the wall.

Xi Jinping meets, Monchen on Friday

On the trade front, the South China Morning Post reported on Wednesday quoting sources close to the issue that Chinese leader Xi Jinping was scheduled to meet with US Trade Representative Robert Lefteizer and Treasury Secretary Stephen Menuchin (right and left) respectively on Friday.

"Shi is scheduled to meet both Leitizer and Monochin on Friday," one source familiar with the arrangements told the Hong Kong daily. However, another source said the Chinese leader should meet with the US delegation in Beijing this week, but gave no details as to when this would happen exactly. The first source said the US delegation would be treated to a banquet at a "Chinese food restaurant" in central Beijing later this week and that Vice Premier Liu Ho is expected to defame American delegates.

"He is looking forward to several important days of talks" after his arrival in Beijing, he said. US President Donald Trump also said yesterday that he would consider postponing the March 1 deadline to reach an agreement on trade with China, but would rather not.

Currency Trading
  •  The dollar index, which measures the greenback against a basket of major currencies at 96.82, is down from the high of 2019 at 97.18.
  • The euro fell against the dollar by 0.07% to EUR / USD at 1.13231 ..
  • The British Pound was up against the Dollar at 0.04% and the pair is trading at 1.2898.
  • The greenback was up against the yen at 0.21% with the dollar trading at 110.71.
  • The greenback also rose by 0.09 to trade at 1.9970.
  • The greenback was down against the Canadian dollar, with 0.12% of trading at 1.32222.


Other analysis

Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 18 March 2019

Time frame Used - four hours The USDJPY is moving in a sideway direction in the near term. the USD/JPY was able to hold steady at 111.12 to rebound slightly to 111.90 as it faces some selling pressure around this level , but it is still above the Bollinger’s moving average line. In view of the technical indicators Both the RSI and Stochastic are indicators to weakness of the indicators.…

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