Dollar Is Steady as Trump Sees China Market Opening
A Bloomberg dollar gauge is steady as US President Donald Trump says in an interview that he is hoping for a deal to further open up China’s market.
The Bloomberg Dollar Spot Index is little changed after falling 0.1% earlier in Asia trading.
“The most exciting part for us and China is that we’re trying to open up China,” Trump says in an interview on Fox News. “I think we’ll be able to make that deal, I hope”.
USD/CNH rises 0.2% to 7.2116; the pair advanced from a six-month low after the PBOC’s fixing that was weaker than forecast.
“If the US stops shooting itself in the foot and backs off on its tariff threat with China and many other nations, then the outlook for the global economy improves and other currencies can benefit,” says Sean Callow, a senior analyst at InTouch Capital Markets in Sydney.
USD/JPY fell 0.2% to 147.16; the Japanese currency outperforms group-of-ten peers.
“If the trade environment and economic sentiment keep improving, the yen’s ability to climb might be curtailed by more buoyant risk-on flows.” says Shoki Omori, chief desk strategist at Mizuho Securities Co. in Tokyo.
Larger interest from funds to buy dollar-yen looks to be layered between 146.20/50, according to Asia-based FX traders.
AUD/USD rose 0.1% to 0.6479; the pair advanced as much as 0.3% after release of the country’s wage data.
NZD/USD rose 0.1% 0.5942.
EUR/USD little changed at 1.1186.
GBP/USD little changed at 1.3306.
Source: Bloomberg
