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Currency performance diverged amid anticipation

2019-05-09 02:48 pm | Resource: NEWS | No Views : 138

Currency performance diverged amid anticipation


The major currencies recorded mixed trading on Thursday as traders watched the tug of war over the China -US trade war.                       

China said on Thursday it had kept its promises in trade talks with the United States, rejecting US accusations that it was backtracking on its commitments. "The United States has made many classifications, such as backtracking, backtracking, etc. Many promises have been made on China," Commerce Ministry spokesman Gao Feng told a news conference. "The Chinese side has kept its promises and this has not changed."

Citigroup: US tariffs will shrink China's growth

Citigroup Global Markets forecast that the increase in tariffs on Chinese goods will reduce the growth rate of the world's second-largest economy by 0.5 percent over a year or two, and the impact could more than double if all shipments to the United States are charged.

The lifting of tariffs on Chinese goods worth $ 200 billion to 25 percent from 10 percent on Friday could cut global growth by 0.2 percent over the same period, Citigroup economist Cesar Rojas said in a note yesterday. The impact on global growth could also be doubled if trade duties were imposed by 25 percent on all remaining Chinese imports.

Brexit is pressuring the pound

In other news, the British pound fell against major currencies on Thursday, with no negotiations showing progress in negotiations between the government and the opposition. Labor leader Jeremy Corbin said the current stalemate would be difficult to get out of with the "crumbling" government, while Prime Minister Teresa Mae faced challenges to her leadership. Yesterday, she evaded a parliamentary question on the date of her resignation.

Currencies Trading
 
  • The dollar dropped to 1.1243 against the euro.
  • The dollar fell to 1.0126 against the Swiss franc.
  • The dollar fell to a 3-month low of 109.55 against the yen.
  • Against the yen, the pound was down 0.32% against the yen at 142.73000 yen.
  • The British Pound was trading at $ 1.3013.
  • The British currency lost 0.10% against the euro to trade at 1.16097 euros.
  • The pound dropped 0.24% against the franc to trade at 1.32372.


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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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