Forex - U.S. Dollar Inches Up; Sino-U.S. Trade Talk Developments Remained in Focus
Investing.com
Published Nov 07, 2019 12:20AM ET
Investing.com - The U.S. dollar inched up on Thursday in Asia, while the Chinese yuan fell, as traders continued to digest the latest trade news.
Market sentiment was boosted this week amid signs that China and the U.S. have narrowed their differences enough to sign a “phase one” trade deal.
However, reports today said the signing of the deal might have to be delayed until December as discussions continued over terms and venue.
U.S. President Donald Trump had previously indicated an agreement could be signed this month.
The USD/CNY pair gained 0.3% to 7.0188 by 12:20 AM ET (04:20 GMT).
Meanwhile, the U.S. Dollar Index that tracks the greenback against a basket of other currencies inched up 0.1% at 97.835.
The greenback was supported by comments from Chicago Fed President Charlie Evans, who told reporters on Wednesday that the U.S. economy is in a good place. Still, he said he would be looking at inflation in deciding what the future stance of monetary policy should be.
The GBP/USD slipped 0.1% to 1.2842 against the U.S. dollar before a Bank of England meeting later in the day. The central bank is not expected to make any change in policy.
The USD/JPY pair lost 0.2% to 108.68 as the yen attracted some safe-haven demand amid falling Asian stocks today.
The AUD/USD pair and the NZD/USD pair lost 0.2% and 0.3% respectively.
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Written By: Investing.com
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