GBP/USD finds a support
During the conference in Hague, German Chancellor Angela Merkel said that the EU would find a backstop solution by October 31 (Brexit deadline).
Greenback tacks on, as trade fresh worries weigh
On Wednesday, the evergreen buck soared versus a currency basket, although revenues were capped after the American government told it would place duties on an extra $200 billion worth of China’s products, thus driving a trade conflict between China and America.
Estimating the greenback’s purchasing power versus a basket of key currencies, the USD index gained 0.11% being worth 93.94.
American trade representative Robert Lighthizer told that American had to start acting due to the fact China had neglected previous warnings to stop unfair trade practices.
News of the extra duties powered worries of a trade war once again just days after America imposed 25% duties on $34 billion of China’s products, and the Chinese government responded with matching duties on the same amount of American goods.
The tit-for-tat duties have powered concerns that the world’s two leading economies could jump with both feet into a full-fledged trade conflict, which market participants are afraid could affect global surge.
Uncertainty as for the future of the North American Free Trade Agreement as well as worries over duties that the current US presidential administration has imposed on EU trading partners have also frightened traders.
The evergreen buck was nearly intact versus the Japanese yen. The currency pair USD/JPY showed 111.06, staying below the seven-week maximum of 111.35 reached on Tuesday.
Investors have always used the Japanese currency as a reliable safe haven asset in times of geopolitical tensions as well as market turmoil.
The common currency turned out to be a bit lower. As a matter of fact, the currency pair EUR/USD dived about 0.1% coming up with an outcome of 1.1733. As for the British pound, this asset was a bit lower too. The currency pair GBP/USD hit 1.3270.
As for the trade sensitive Australian currency, it dipped. The currency pair AUD/USD slumped 0.55% being worth 0.7419.
Similar
Bitcoin falls below the $10,000 level
The digital asset could not stick above the 50-day SMA for a long time.
Is there a chance for the NZD?
New Zealand is going to release the level of quarterly retail sales on August 23, at 1:45 MT time.
Latest news
Crypto assets decline as OECD demands global ICO regulation
On Monday, crypto assets tumbled due to the fact that the Organization for Economic Cooperation and Development drew attention to the necessity of the global regulation of initial coin offerings…
German exporters don’t care about stronger euro
German exporters demonstrate ascending optimism as for their business prospects because growing demand from other euro zone countries helps to compensate worries regarding the strengthening currency, as the Ifo economic institute told on Wednesday…
Japan's October machinery orders tack on
In October, Japanese machinery orders rebounded with a faster soar than anticipated, thus re-affirming the resilience of capital spending, which is a major driver in the Japanese economy's almost two-year expansion…
Deposit with your local payment systems
