Donald Trump to push additional tariffs on some Chinese imports as investors remained skeptical about prospects for a quick market solution.The safe haven was higher on Wednesday, despite a US President’s decision.
The return to trade war backed risk trades on Tuesday, but analysts warn that optimism is already waning over a solution to the trade war between the world’s two largest economies, which has threatened global economic growth.
Tohru Sasaki said: “If we only think about the United States and China, there may be more room for dollar profits and loss of yen, but that doesn’t mean the trade frictions are resolved.”
I do not expect significant (endangered) movements. “” There are still many geopolitical risks, such as Hong Kong, Brexit, and the Iranian situation.
The dollar was down 0.28% to 106.42 yen by 04:00 AM ET (08:00 GMT).
The Australian dollar also fell 0.6% to 72.15 yen while the New Zealand dollar fell 0.3% to 68.71 yen.
Against the offshore yuan, the dollar rose 0.33%.
Trump on Tuesday withdrew his September 1 deadline for 10% tariffs on remaining Chinese imports, delaying duties on mobiles, laptops and other consumer goods, in hopes of diminishing their impact on holiday sales in the Sh. BA
However, trade negotiations between the US and China have advanced in adaptation and are beginning, so many investors and analysts have lowered expectations for a settlement in the near term.
The US dollar index, the green level’s measure against a basket of six currencies, changed slightly to 97.58 after rising 0.4% on Tuesday.
The single currency showed little reaction to data showing that the German economy, the largest in the euro area, contracted 0.1% in the second quarter amid the effects of the trade war.
The British pound changed slightly to green at 1.2056.forex.com
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