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Dollar fell against currencies with the exception of a trade agreement

2019-06-03 11:13 am | Resource: NEWS | No Views : 173

Dollar fell against major currencies with the exception of a trade agreement

Dollar  recorded red trading during the opening of weekly trading as the trade conflict intensified and the possibility of reaching an agreement between China and the United States soon

Exclude the conclusion of a trade agreement between China and the United States

CNBC analysts said on Monday that a trade agreement between China and the United States was unlikely to be held at the G20 summit in Japan later this month.

The media quoted experts from JPMorgan. Morgan Stanley said they did not expect a deal to be signed in the near future. "It is very difficult to see a deal in the short term," said James Sullivan of JPMorgan, citing "a very tough tone from the US administration."

Jonathan Garner of Morgan Stanley echoed his sentiment, saying that "it often seems that there is no more deal than the deal." He added that the cost of a trade war could soon be felt by the two countries if tensions turned worse and predicted they would have to change their monetary policies in reaction.

The news comes after the prediction of fellow banking giant Goldman Sachs earlier in the day that trade disputes between the United States, China and Mexico will escalate. He also said he did not expect any deals to be concluded by the end of this year or early next year.

Trump claims that China's trade war brings billions

US President Donald Trump said on Monday that the government in Beijing is burning money in an effort to stay competitive in bilateral trade in goods. He claimed on Twitter that the world's second-largest economy "supports its products." "Many companies are leaving China to other countries, including the United States, to avoid paying customs duties, there is no significant increase in costs or inflation, but the United States is taking billions of dollars!" The President confirmed.

In Washington, the administration accuses the most populous country of illegally supporting its exporters and dumping practices. This case, in addition to disputes over alleged IP theft and the transfer of forced technology, has led to a massive trade war. The United States is pressing China to foreign exchange policy.

Major currencies trading
  • The dollar index, which tracks the performance of the greenback against several major currencies, was down 0.11% at 97.64.
  • The euro rose 14% against the dollar and the euro traded at 1.1185.
  • GBP / USD rose 0.09% to trade at $ 1.2643.
  • The greenback against the Japanese Yen, which represents a safe haven, stabilized at 108.29.
  • The greenback was lower against the Canadian dollar at 1.3497.

Other analysis

Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 17 April 2019

We offer you the analysis of the US dollar against the Japanese Yen on Wednesday, April 17, 2019 with the most important expectations for the dollar against the Japanese yen on the market. Time frame Used - four hours The USD/JPY is moving in a bullish direction in the near term. USD/JPY is still facing resistance and selling pressure around 112.10 as the USD-JPY closed yesterday's session down below 112.00…

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