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USD rose due to a progress in Trade Conflict

USD rose due to a progress in Trade Conflict

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Jim Anderson - Public Relations

On Wednesday in Asia, the US dollar added slightly after US President Donald Trump announced that Washington and Beijing are in the “final stages of a very important deal”. This gave hope for the signing of the agreement and the suspension of the 16-month trade conflict. However, Trump also expressed support for the demonstrators in Hong Kong, a sore point in relations with China.

On Tuesday, the Chinese Ministry of Commerce stated that phone conversation was held between representatives of the countries and “a consensus was reached on resolving key issues”, but didn’t provide additional details. The call was later confirmed by US officials, but they also noted that obstacles still persist.

Futures on the US dollar index rose 0.1% to 98.270 at 00:00 New York time. US stock and bond markets will be closed on Thanksgiving Thursday. The EURUSD fell by 0.1% to 1.1008. Eurozone inflation data for October will be released on Friday. The GBPUSD rose by 0.1% to 1.2851. The pair USDJPY rose by 0.1% to 109.14. The AUDUSD pair fell by 0.2% to 0.6770.