The dollar was in a weak position on Friday, falling to a three-week low. This came following positive rhetoric surrounding both the US-China trade war and Brexit. The dollar is stronger this morning against both the euro and the dollar.
Both sides reportedly agreed on the outlines of a ‘partial’ trade deal, that President Trump said could be signed as early as next month. The US has said that they will delay a tariff increase due this week, whilst China will increase purchases of agricultural commodities, agree to certain intellectual property measures and concessions related to financial services and currencies. Trump said that this was the first phase of a broader agreement.
There will be several speeches from Federal Reserve officials this week ahead of their interest rates meeting at the end of the month.
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