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Dollar rising on gloomy outlook for US-China trade negotiations by Reuters



© Reuters. FILE PHOTO: US dollar bills are depicted at a currency office in Diyarbakir

By Tom Finn

LONDON (Reuters) – The dollar rose on Monday as it grew that US-China speeches this week would not cure a step over trade between the world's largest economies.

The greenback is lifted by its confidence in appeal as an investor who is concerned about a sharp global economic downturn and is slipping into the world's most liquid currency.

It is on its way for an eighth consecutive day of winnings.

US dealers this week will push China to reform how it deals with US companies' intellectual property rights.

The speaker talk in Beijing is a leading focus for investors, many of whom see little prospect of a trade agreement and instead expect an extension of the deadline on March 1

to decide whether to raise tariffs.

Emerging Market and China's sensitive currencies like the Australian dollar are most likely influenced by developments in the trade vision this week.

The strengthening of the dollar has arisen despite the Federal Reserve's cautious tone at its January meeting.

"The US currency is currently in demand as a safe haven, reflected in the fact that the Swiss franc and the Japanese yen – also typical currencies for safe haven – have been able to appreciate the dollar since. the beginning of the month, "said Thu Lan Nguyen, an FX strategist at Commerzbank (DE 🙂 in Germany.

The value of the value over six major peers was marginally higher at 96.74.

The Swiss franc rose by 0.1 percent at 1,0006.

Trump has promised to increase US tariffs of $ 200 billion. imports up to 25 percent from 10 percent if the two sides cannot reach an agreement.

Monday morning, when Chinese markets reopened after a week's vacation, the dollar was 0.5 percent higher than the yuan at 6,7753, while it was relatively unchanged at 6,7808.

Philip Wee, DBS's currency strategy, expects the yuan to remain around 6.80 until there is more clarity on how the US-China trade competition is playing.

The euro was a pressure lower than the $ 1.1322 dollar, while it was 0.1 percent higher at $ 0.7096, following a disastrous week when it lost 2.2 percent.

The euro came under pressure as key European debt yields touched their lowest for over two years. The single currency has lost 2.5 percent so far this month.

On Thursday, the European Commission sharply tightened its forecasts for the euro area's economic growth this year and next.

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