The U.S. dollar fell on Monday after CNBC reported that Chinese officials are pessimistic that a trade deal will be signed.
The report, which cited government sources, said the bleak outlook was due to U.S. President Donald Trump™s reluctance to roll back tariffs. China has been pushing for the two sides to remove tariffs as they work on a phase one trade deal. Trump has said that he has not agreed to end tariffs, causing uncertainty on whether or not there will be a deal. Since then, both sides have said they are making progress but have not given any details on the outcome of talks.
The U.S. dollar index, which measures the greenback™s strength against a basket of six major currencies, fell 0.2% to 97.700 as of 10:25 AM ET (15:25 GMT).
The safe-haven Japanese yen was higher with USD/JPY down 0.1% to 108.59.
Elsewhere, sterling was steady, after rising 0.4% earlier in the session on news that all Conservative Party candidates at the Dec. 12 election have pledged to back Prime Minister Boris Johson™s Brexit deal. Opinion polls suggest that the Conservatives will win the election.
GBP/USD rose 0.4% to 1.2953 while EUR/USD was up 0.2% to 1.1068.
Source : Investing.com
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