The dollar was strong yesterday on the back of continued trade deal optimism. A Chinese commerce ministry official suggested that the world’s two largest economies are close to achieving a deal and said that both sides have agreed to scrap tariffs in phases.
He said that to reach a ‘phase one’ deal, the proportion of tariffs to be cancelled on both sides must be the same, but this proportion can be negotiated. No timetable for this has been specified yet.
Today we’ll see consumer sentiment figures released, which are expected to show a slight increase.
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.
