US-China talks bolster commodities currencies, US dollar down

Posted 09 January, 2019

The US dollar is losing grounds vs the majors, while the commodities currencies got support from the optimism expressed by the US President Donald Trump during the recent US-China trade talks. Moreover, the increase was shown not only traditional commodities currencies but also New Zealand, Australian dollar and Norway krona, with ongoing strengthening of the Canadian currency against the greenback boosted by soaring oil.

The US dollar index decreased by some 0.11%.

The euro got stronger vs the dollar reaching some $1.1460. Moreover, it should be mentioned that similar dynamics was seen against the Japanese currency – 127.75 (124.42 earlier).

Speaking about the US dollar-to-yen exchange rate, it was recorded at 108.85 (108.75 a day before). 

The sterling also posted gains in the pair with the US dollar. The rate moved up to some $1.2735 ($1.2717).

The recent market shakes failed to affect the Chinese yuan, which remains steady on the talks between Washington and Beijing.

In the UK, the government has slated Brexit vote in the House of Commons for January 15. As commented the market source, the market keeps mostly expecting soft Brexit, and this scenario can bolster higher positions of the British currency.

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09 January, 2019 15:12

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