empty
 
 

2019.12.0320:25:00UTC+00U.S. Dollar Seeing Modest Weakness After Trump Comments On Trade Deal

The U.S. dollar has recovered from its worst levels of the day but continues to see modest weakness during trading on Tuesday.

Currently ,the dollar is trading at 108.64 yen compared to the 108.98 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is valued at $1.1080 compared to yesterday's $1.1079.

The greenback moved to the downside earlier in the day after President Donald Trump suggested he might prefer to wait until after the 2020 elections to strike a trade deal with China.

Trump told reporters at a NATO summit in London there is no deadline to reach a trade deal, adding, "In some ways, I think it's better to wait until after the election."

"But they want to make a deal now, and we'll see whether or not the deal's going to be right; it's got to be right," Trump said.

Trump claimed a potential trade deal is only dependent on whether he wants to sign it, because the U.S. is "doing very well" and China is "having by far the worst year that they have had in 57 years."

The comments from the president added to rising trade concerns after his administration threatened to impose duties of up to 100 percent on $2.4 billion in French imports, including champagne and handbags.

The threat comes after the administration concluded France's new digital services tax discriminates against U.S. companies such as Google (GOOGL), Apple (AAPL), Facebook (FB), and Amazon (AMZN).

However, traders seemed somewhat reluctant to make more significant moves ahead of the release of the closely watched monthly jobs report on Friday.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback