US dollar regains positions, market awaits any reports about trade talks

Posted 08 January, 2019

Following the end of the Washington-Beijing talks, the US dollar has managed to rebound after the last-week weakening.

The US dollar index has reached $95.31 on Tuesday. 

The euro-to-US dollar exchange rate decreased to some $1.1460. The greenback also improved positions vs the Japanese currency, with the rate reaching 108.84. 

As for other major currencies, the sterling has slightly changed against the American currency. The sterling-to-US dollar rate was recorded at $1.2772 during today's session.  The Australian dollar-to-US dollar rate dipped to 0.7134. Its New Zealand counterpart also showed negative dynamics down to 0.6741.

The US-China negotiations will come to an end today. Thus, the market is waiting now for any reports about a possible trade agreement between the parties.

Last Friday, the greenback dropped affected by the message of Jerome Powell, the US Fed Chairman, saying that the US regulator will quickly make changes if it sees the market fears exceeding the positive economic reports. As a result, investors realized that the Central Bank is unlikely to revise the interest rate in 2019 citing slower economic upturn in the world.

Notably, the market participants expect that the US President, Donald Trump, will make a statement regarding the Mexico wall issue as well as the government restart.

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08 January, 2019 15:37

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