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Home / Business / Dollar rises on bad prospects for US and China trade negotiations by Reuters

Dollar rises on bad prospects for US and China trade negotiations by Reuters



© Reuters. FILE PHOTO: US Dollar banknotes are depicted at a currency exchange office in Diyarbakir

By Tom Finn

LONDON (Reuters) – The dollar rose on Monday when US and Chinese calls a week would not cure a fox trade between the world's largest economies .

The greenback is lifted by its state of security as investors, worried about a sharp global economic downturn, are plunging into the world's most liquid currency.

It goes on an eighth consecutive day with winnings.

US dealers this week will push China to reform how it treats US companies' intellectual property rights.

The high-level talks in Beijing are a leading focus for investors, many of whom see little prospectus on a trade agreement, and instead expect an extension of March 1

to decide whether to increase tariffs.

Emerging Market and China-sensitive currencies such as the Australian Dollar are most likely influenced by developments in the trade dispute this week.

The strength of the dollar has emerged despite the Federal Reserve's cautious tone in its January meeting.

"The US currency is currently in demand as a haven. This is reflected in the fact that the Swiss franc and the Japanese yen – also typical safe currencies – have been able to appreciate the dollar since its inception. month, says Thu Lan Nguyen, an FX strategist at Commerzbank (DE 🙂 in Germany.

The value compared to six major peers was marginally higher at 96.74.

Swiss franc increased by 0.1 percent by 1,0006.

Trump has promised to raise US tariffs of $ 200 billion Chinese imports to 25 percent from 10 percent if the two sides cannot reach a deal.

On Monday morning, when China markets reopened after a week's vacation vacation , the dollar was 0.5 percent higher against the yuan of 6,7753 while it was relatively unchanged at 6,7808.

Philip Wee, a currency strategist at DBS, expects the yuan to remain around 6.80 until there is more clarity on how trade competition n between USA and Sino plays out.

The euro was a push lower against the $ 1.1322 dollar while it was 0.1 percent higher at $ 0.7096, following a disastrous week when it lost 2.2 percent.

The euro came under pressure as the well-known European government debt rate moved the lowest for over two years. The only currency has lost 2.5 percent so far this month.

The European Commission on Thursday sharply cut forecasts for the euro area's economic growth this year and next.

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