Evergreen buck rebounds on relieving trade tensions

Evergreen buck rebounds on relieving trade tensions

On Tuesday, the major US currency rebounded versus other currencies in Asia in the face of decreasing trade tensions between the world’s two leading economies. It’s because China and America started negotiations just to ease worries of a full-blown trade conflict. The Japanese yen dived amid strengthening investor risk appetite.

Tracking the US dollar versus a group of six key currencies the US dollar index last showed 88.66, tacking on 0.02%. The evergreen buck managed to pick up having hit a one-month minimum of 88.58 on Tuesday morning.

Market participants regained their appetite for risky assets because the United States and China are currently in talks for the purpose of finding a mutually agreeable approach just to have the trade deficit gap narrowed. Additionally, US Treasury Secretary Steven Mnuchin told that from his point of view his country and China would finally come to a compromise to avert unnecessary duties on American exports.

Besides this, the People’s Bank of China had the fix rate of Yuan set against the greenback at 6.2816 compared to the previous day’s reading of 6.3193. The move helped to overleap the major 6.3 mark. The level appeared to be the strongest value since August 2015. As a matter of fact, the currency pair USD/CNY headed south 0.25% coming up with 6.2566.

On Monday, the Chinese Yuan managed to surge versus the evergreen buck dollar because the US currency was still weak, while the level clearly reflected the Yuan’s actual performance and generally matched market hopes.

The currency pair USD/JPY pair tacked on 0.21% being worth 105.63. Evidently, the return of investor risk appetite suppressed the safe-haven currency because the market was reviving from the previous week’s turbulence.

In addition to this, the currency pair AUD/USD showed 0.7738, decreasing 0.10%.

 

Similar

Popular

Japan real wages surge is slowest in almost two years

Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…

Crude holds revenues on API estimates

On Wednesday, crude held revenues in Asia because industry estimates revealed a much sharper draw in American crude inventories expected, although higher than seen gasoline stocks affected market sentiment…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera