FX Market: Dollar Flat On Trade News
The dollar finished Monday on flat trading after the lack of any important updates regarding the US-China trade talks.
The US dollar index traded 98.180.
A report said, citing sources, a phase two trade deal was less likely now. The sources claimed that the US and China are struggling to reach the preliminary phase one.
Previously, another report said that the signing of a phase one deal might take place next year.
Last week, Chinese President Xi Jinping said that China wants to have a deal. He then added, however, that Beijing was ready to retaliate if necessary.
Meanwhile, US President Donald Trump also said that a deal was “potentially very close.” However, he added that the question was “whether or not I want to make it.”
In a televised interview, Trump said, “We have to stand,” in relation to the Hong Kong crisis.
Britain Nears Election, and Johnson Boosts Pound
Over in Britain, the pound gained 0.1% to $1.2847 after Prime Minister Boris Johnson promised to bring a deal to the Parliament before Christmas.
Johnson’s Conservative Party is leading in opinion polls.
Johnson has also unveiled his election platform. He also claimed that his party was the only one to complete the Brexit process.
Brexit was the platform’s sole focus. Johnson claimed his government would pull Britain out of the EU by January 31. Additionally, he added that other parties would only slow the process or stop the exist.
Elsewhere, the safe-haven Japanese yen traded flat against at the dollar at 108.61.
The euro lost 0.1% to 1.1042 against the dollar. And while it started Monday reasonably stable, the Australian dollar ended up flat on the day. Against the US dollar, the Aussie traded at 0.6784.
Against the Chinese yuan, the dollar lost 0.1% to 7.0356.
Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. Subscribe now and receive FREE updates on the market today!