Forex Marketz Daily Forex News – Fully Markets Update
The Japanese yen has weakened against the U.S. dollar. Japan’s currency is now trading near a one week low.
Trader sentiment is improved by optimism that a trade deal between China and the United States will be signed soon.
This has dented safe haven currencies like the yen and Swiss franc. This morning the British pound also gained ground as polls indicate a victory for the Tory Party at the December 12 general election.
In the headlines, today, the government owned newspaper, the Global Times, reported that the China and the United States were close to a preliminary trade agreement. They discounted negative news reports. This was on their official Twitter feed.
The headline USD/JPY Forex market saw the dollar gaining as this market hit a high above 109.02 yen. This is a one week high price point.
The EUR/USD currency exchange rate was trading lower at 1.1013. This is near the one week low set on Monday at 1.10035.
The GBP/USD Forex market was trading 1.29 as the pound is getting a boost from polls indicating a win for the Conservative Party at the December 12 general election.
Traders Monitor Trade Commentary as Sentiment Improves, weakening the Japanese Yen
Over the weekend, China invited United States Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin to Beijing to continue trade negotiations.
Forex traders are still waiting to see if the U.S. will make a key announcement will come before December 15 deadline that will see the United States implement new tariffs.
China’s Ministry Spokesperson, Geng Shuang, has said that China will “hope the US will work with China to find a mutually acceptable solution based on equality and mutual respect, which will serve the interests of China, the US and beyond.”
However, optimism will wane, once again, if President Donald Trump indicates again that he has no intentions of rolling back tariffs.
