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The dollar was relatively stable against major currencies after yesterday decline

2019-02-20 08:20 am | Resource: NEWS | No Views : 207



The dollar traded against major currencies in morning trading on Wednesday ahead of the Fed's monetary policy meeting minutes. And amid positive news about trade negotiations

 US President Donald Trump described trade talks between Washington and Beijing as "complex," but remained optimistic about the outcome of the discussions. The president added that the March 1 deadline "is not a magic date because there are a lot of things happening."

Suit against Trump

The American Civil Liberties Union (ACLU) filed a lawsuit against the administration of US President Donald Trump over the announcement of a state of national emergency last week. "The president is using a false declaration of a non-existent emergency to undermine our constitutional order from checks and balances in the process that is seriously hurting communities living and working on the border," the organization said in a statement.

The American Civil Liberties Union called the announcement "an illegal attempt to steal taxpayers' money for a border wall that Congress, security experts and Americans said was unnecessary and harmful." On Monday, 16 US states filed a lawsuit against Trump, a move the president had expected, who said he was likely to win as soon as it reached the Supreme Court.

The softening of the manipulation of the yuan is difficult

In other news, former Federal Reserve Chairman Janet Yellen said preventing China from manipulating its currency was more difficult than US trade negotiators might think. This means that some tools used by policymakers to stabilize their economies will eventually weaken their exchange rates, making it difficult for negotiators to determine what currency manipulation is to be made of prudent monetary policy.

The dollar is trading against the currencies
 
  • The dollar index fell against a basket of six major currencies to trade at 96.451 after falling about 0.4 percent.
  • Against the dollar, the euro was up 0.1 percent at $ 1.1353 near a two-week high.
  • The British pound continued to rise during Asian trading, rising to a two-week high of 1.3077.
  • The yuan rose 0.5 percent to 6.7248 against the dollar, its strongest level since Feb. 1.


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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