The dollar is heading towards weekly gains against most major currencies today, Friday, after it raised a trade agreement between the United States and Britain hopes for progress in imminent talks between the United States and China.
The bets fell on an imminent reduction in US interest rates after the Federal Reserve (the US Central Bank) indicated that it is not in a hurry.
Financial markets are heading to a weekend dominated by commercial negotiations between Washington and Beijing, which is scheduled to start tomorrow, Saturday, in Switzerland.
- The euro touched the lowest level in a month at $ 1.1197 last night, and 0.6% decreased during the week, and in the latest trading today, 0.15% increased to $ 1.2245.
- The yen, which is a good indication of investor confidence, fell by 0.4% this week and reached the lowest level in a month at 146.18 against the dollar before it rose to 145.33 and left the dollar at 0.4% during the day.
- As for the British pound, which rose after news of an imminent trade agreement between the United States and Britain, it was destroyed by its gains when it turned out that the agreement was very limited. The British pound reached its lowest level in 3 weeks at 1.3220 for the dollar in early trading today. It is currently circulating at 1.3272 for the dollar, with an increase of 0.2%.
The “Public Foundations” Agreement allows the expansion of the access of products Agricultural modestly for both countries and reduce American customs duties Extensively on British car exports, but it keeps the basic fees of 10%.
“I find it in general difficult to understand the reason for the rise in the dollar in trading yesterday,” said Folkar Power, a strategic expert at Kumretz Bank.
Steve Ingrender, Standard Charterd Currency Research Officer, said in a memorandum of customers that the market’s reaction to the purchase of the dollar may reflect a greater optimism that the possibility of concluding such fees -related agreements and not necessarily to celebrate the agreement with Britain.
And I went up to form again over $ 100,000, reflecting a renewed appetite for risk.
Trump said he expected important negotiations between the United States and China, suggesting that the customs duties of Beijing of 14%were reduced.
The New York Post reported, quoting unnight sources, that the US administration is studying a plan to reduce customs definitions on Chinese goods in more than half, but the White House denied this.
