On Wednesday, the evergreen buck went up, attracting safe-haven bids following reports of further tension in US-China trade talks, although its profits were minor, with caution anticipated from the major US bank at its policy gathering later in the day…
US currency stands still
On Thursday, the evergreen buck stood still versus a pack of its major counterparts because worries over global trade clashes as well as recent turmoil in emerging markets backed safe haven demand for the evergreen buck.
Gauging the US currency’s purchasing potential versus its key rivals the USD index hit 95.04 descending by 0.33%.
On Wednesday, the evergreen buck slumped, suppressed by a soar in the UK currency that was backed by that news that both the German and British authorities have abandoned main Brexit demands.
The UK pound didn’t change for the day. The currency pair GBP/USD reached 1.2900 having soared by 0.45% on Wednesday.
Market participants were still focused on the US - China trade conflict in the face of worries that an escalation could be inevitable.
American leader could impose an extra $200 billion worth of China’s goods when a public consultation period is over later on Thursday.
Market participants were also closely watching developments in negations between Canada and America aimed at recovering the North American Free Trade Agreement, against the backdrop of several signs that deal is quite close.
The evergreen buck went down versus the Japanese yen. The currency pair USD/JPY dived by 0.16% demonstrating an outcome of 111.35.
The common currency slumped versus the evergreen buck. The currency pair EUR/USD lost 0.13% trading at 1.1616.
The Australian dollar, normally considered to be a gauge of risk, declined. The currency pair AUD/USD headed south by 0.29% trading at 0.7173, which is not far from Tuesday’s minimum of 0.7143 that was the weakest value since May 2016.
The Australian dollar didn’t manage to gain support notwithstanding data overnight disclosing that Australia’s trade surplus rallied more than predicted in July.
Meanwhile, Argentina’s peso and Turkey’s lira pushed higher versus the greenback after recent heavy dives.
On Tuesday, the evergreen buck slumped due to the fact that the key US bank started its two-day gathering, with many expecting the major financial institution to come up with a dovish outlook on monetary policy when the gathering concludes on Wednesday…
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Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…