The dollar weakened yesterday due to worries about US-China trade tensions. The markets have been largely assuming that tariffs expected on the 15th of December will be dropped or postponed. However, as a phase one trade deal has not yet been signed, the tariffs have not been averted.
Top White House economic adviser Larry Kudlow confirmed on Friday that the deadline to impose the new tariffs remains in place but added that Trump is pleased with where trade talks with China are going. China has also said that it hopes to make a trade deal as soon as possible.
The dollar also slipped due to weak Chinese data, which highlighted the economic damage from this 17-month long trade war.
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