The dollar was strong against the pound and the euro yesterday as initial optimism following US-China trade talks faded slightly. This was due to the lack of detail which materialised from the talks last week. This morning, the dollar is weaker against the pound and stronger against the euro.
US Treasury secretary Steven Mnuchin and US trade representative Robert Lighthizer plan to have a call with Chinese Vice-Premier Liu He next week, followed by further face-to-face meetings. The aim is to prepare for Donald Trump and Xi Jinping to sign an agreement at the Asia-Pacific Economic Cooperation summit in Chile next month.
In a late tweet yesterday, China suggested that they may want another round of talks before signing off on a ‘phase one’ deal.
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.
