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Dollar Divergence On Reports Of Trade Talks

Published 11/13/2018, 09:26 AM
Updated 07/09/2023, 06:31 AM

The dollar was mixed against major currencies as the yuan rose against the dollar on Tuesday after reports that US Treasury Secretary Stephen Menochin had resumed talks with Chinese Vice Premier Liu Hee.

The United States And China In Talks To Ease Trade Tensions

US Treasury Secretary Stephen Manuchen spoke with Chinese Vice Premier Liu Hee on possible easing of trade tensions ahead of the G20 meeting in Buenos Aires, the Wall Street Journal reported, quoting officials familiar with the conversation.

The phone call on Friday did not lead to a breakthrough, but showed both sides were trying to find a solution to the trade dispute, officials said.

US President Donald Trump has pointed several times during his mid-term rallies to his belief that China is willing to make a deal with the United States, despite $ 250 billion in tariffs on Chinese imports. Trump and Chinese President Xi Jinping will speak on the sidelines of the G-20 summit at the end of this month.

  • The dollar pair fell 0.14% to 6.9551 before 06:10 GMT.
  • The pair of yen rose 0.14% to 114.00. Trade optimism between the United States and China has been cited as a catalyst for selling the yen.

The GBP/USD pair fell for a third day as traders waited to see whether British Prime Minister Teresa May would abandon Britain's exit plan, including Britain's exit negotiations from the EU "in the final stage"

British Prime Minister Theresa May said on Monday that negotiations between the United Kingdom and the European Union over Britain's exit from the European Union were "in the final stage." She said the two sides wanted to reach an agreement and worked hard to resolve the remaining "important" issues.

"What we negotiate is very difficult," May said in a speech in London, "I'm not ashamed of that." "I will not agree with what people voted for in the referendum, this will not be an agreement at any cost."

Earlier in the day, European Union chief negotiator Michel Barnier said the standards of the Brix agreement were "largely limited," although May faced domestic opposition. Brikst secretary Dominique Rab is said to be ready to ask the UK to prepare for Britain's exit from the EU if the prime minister can not negotiate further concessions from the EU.

  • The GBP/USD rose 0.22% to 1.2881 before 09:00 GMT.

While the euro fell to a 16-month low amid more worries about Italy's budget.

  • The EUR/USD rose 0.12% to 1.227 before 09:00 GMT.
  • The AUD/USD rose 0.6% to trade at 0.7213
  • NZD/USD and 0.5% respectively. The pair traded at 0.6752 levels

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