The dollar weakened further yesterday following the release of US private sector job growth data, which unexpectedly showed that private sector hiring slowed to its weakest pace in six months. The ISM non-manufacturing figure also fell to 53.9 in November from 54.7 the previous month. This comes ahead of Non-Farm Payrolls, which are due to be released on Friday.
Despite suggestions from Donald Trump earlier in the week that the trade deal could be a long way off, as well as tensions over Hong Kong, a report yesterday suggested that the two sides are moving closer to an agreement. The report said that people familiar with the talks downplayed Trump’s comments and said that the US and China are closer to agreeing on the number of tariffs that would be rolled back as part of a phase one deal.
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