The dollar is strong against the pound and weaker against the euro this morning. The greenback originally made gains on the back of the truce between the US and China, however, this optimism faded due to doubts over whether a deal can be reached.
Despite stating that talks between the US and China have already begun, President Trump also said that any deal would have to be tilted in favour of the US. He said, “It has to be better for us than for them because they had such a big advantage for so many years.”
For now, Trump and Xi have agreed to hold off on imposing new tariffs on the imports of each other’s goods, to allow for trade negotiations to resume.
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