Investing.com | Nov 08, 2019 23:43
Investing.com - The U.S. dollar was higher on Friday as U.S. President Donald Trump confirmed that he plans to sign a trade deal with China, but had not yet decided if he would roll back tariffs.
China had stated Thursday that the two nations had agreed to phase out tariffs as part of the anticipated phase one trade agreement.
Trump said on Friday that he would not fully roll back tariffs, but that a deal could be signed with Chinese President Xi Jinping in Iowa by the end of the month, adding that China wants to make a deal.
The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, jumped 0.2% to 98.180 as of 10:30 AM ET (14:30 GMT).
The safe haven Japanese yen was higher with USD/JPY down 0.1% to 109.17.
Elsewhere, sterling was flat just a day after the Bank of England left its key interest rate unchanged at 0.75% and cut its growth forecasts. GBP/USD was steady at 1.2809.
The euro continued to trade lower, with EUR/USD slipping 0.3% to 1.1019 after forecasts from the European Commission lowered expectations for any kind of stimulus in the struggling bloc.
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Get free real time quotes, charts and alerts on stocks, indices, currencies, commodities and bonds. Get free top of the line technical analysis/predictors.
More content, faster quotes and charts, and a smoother experience is available only on the App.