The US and China have reportedly agreed a tentative truce to allow talks to resume between the two nations, which gave the dollar a lift yesterday. President Trump said yesterday that a trade deal was possible this weekend, but also that he is prepared to impose tariffs on remaining Chinese imports, if the two nations continue to disagree.
Trump and Xi are expected to meet in Osaka on Saturday. In an interview this week, Trump said “It’s possible that we’ll make a deal, but I’m also very happy where we are now.”
Meanwhile, Trump has tweeted to say that he is also looking forward to speaking with Indian Prime Minister, Narendra Modi, about high tariffs. However, the Indian Government have since hit back, saying that their tariffs are not that high in comparison with other developing countries.
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.
