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Dollar fell against major currencies as trade talks ended

2019-01-09 08:36 am | Resource: News | No Views : 214

 

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


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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