The dollar is weak this morning, expected to finish the year on a softer note. The greenback has fallen out of favour slightly as hopes of a US-China trade deal increase and there is renewed optimism about global growth.
Chinese authorities said Beijing was in close contact with Washington about an initial trade agreement. Prior to those comments, U.S. President Donald Trump had talked up a signing ceremony for the recently struck phase one trade deal. China’s central bank also unveiled a measure to help lower borrowing costs and boost economic growth.
It’s a busy week for economic data for the US, with Manufacturing PMI on Thursday and the FOMC minutes on Friday.
For more on currencies and currency risk management strategies, please get in touch with your Smart Currency Business trader on 020 7898 0500 or your Private Client trader on 020 7898 0541.
