Dollar holds gains as investors cling to trade hopes
Wednesday, 13 November 2019 08:25 WIB | CURRENCIES | Indeks Dolar

The dollar clung to most of its recent gains on Wednesday after U.S. President Donald Trump said a trade deal with China was œclose but offered no new details on negotiations to send the greenback higher.

Hopes for an imminent a deal to wind back tit-for-tat tariffs the world™s two largest economies have imposed on each other have lifted the dollar 1% this week to a one-month high of 98.423 overnight against a basket of currencies.

It slipped a little lower to 98.309, though moves were modest as investors waited for more concrete trade news.

The dollar hit a month-high against the euro overnight and steadied near that level at $1.012 on Wednesday.

China's yuan weakened past the 7-per-dollar mark after the speech and was steady at 7.0232 per dollar in offshore trade on Wednesday.

Against the Japanese yen the dollar was stable at 108.97 yen - not far below the 5 1/2 month high of 109.48 yen it hit last week.

The British pound was steady at $1.2850, after a brief boost from the Brexit Party's decision not to contest Conservative-held seats at December's election faded.

The Australian dollar sat at $0.6842, close by a two-week trough.

Source: Reuters

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