Commodity News
HeadLine : Dollar firms as Sino-U.S. trade deal day draws near
Date : Jan 13 2020
The dollar began the week supported by optimism on the Sino-U.S. trade front, while the pound wobbled lower after weekend hints at an interest rate cut from a Bank of England policymaker. A U.S.-China trade deal is due to be signed at the White House on Wednesday, though talks on a phase two package are likely to drag on for months. The imminent deal, ending an 18-month trade dispute, has investors hoping for a revival in global growth. That offered support to trade-exposed Asian currencies such as China’s yuan and the Australian dollar, as well as the greenback. Against a basket of currencies the dollar edged higher to 97.410 and the Chinese yuan held at a five-month high in offshore trade. More broadly, the morning’s moves partly reversed Friday’s dip in the dollar when data showed U.S. nonfarm payrolls missed forecasts, while wages and hours worked were soft.

Source : Reuters
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