US dollar generally maintains grounds

Posted 29 August, 2019

In the second half of the week, the US dollar has posted slight changes against the majors. At the same time, the Japanese currency is rising at today's trading in tandem with US state bonds driven by healthy demand for safe-haven currencies. Buying of safe havens is soaring since the market doubts that Washington and Beijing will manage to come to terms in the near term.

The euro-to-US dollar exchange rate was recorded at $1.1080, while the previous trading was closed near $1.1103.

the Japanese currency got stronger against the greenback on Thursday. The rate stands at 106.17.

The yen improved just after the US Administration stated that the trade talks between the countries are unlikely to show great progress promptly. The process can be dragged on since Washington wants Beijing to make serious structural changes.

Meanwhile, the US Secretary of Treasury Steven Mnuchin stated in the middle of the week that Washington is about to host a Chinese delegation that will arrive to discuss restoration of the trade talks between two countries. At the same time, he refused to comment on possible dates of arrival.

The pound sterling has somewhat stabilized in price, after the recent plunge on reports that the UK Parliament will be closed beginning from the second week of September. The pound-to-US dollar exchange rate was recorded at $1.2197.

For reference, the Parliament will suspend operations from September 9 till September 14 when the Queen will deliver the speech to the Parliament. This means that the officials will have less time to discuss Brexit in Brussels on October 31.

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