The dollar weakened yesterday as trade uncertainties between the US and China continued. Following comments on Friday that he had not agreed to scrap tariffs on Chinese goods, despite reports that said otherwise, President Trump added that talks were going “very nicely” but that he would only make a deal if it was best for America. This called into question the possibility of both Trump and President Xi Jinping signing a ‘phase one’ deal at the end of the month.
Today, Trump will make a speech at the Economic Club of New York. Should he mention the phase one deal today or the roll back of tariffs, the dollar could move accordingly.
The unrest in Hong Kong has also weighed on the dollar. Protests intensified yesterday and police used live ammunition on demonstrators.
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