Dollar stronger on Trade optimism, Brexit deal could be in the works
Laurence Hayward | August 27, 2019
"Far better is it to dare mighty things, to win glorious triumphs, even though checkered by failure... than to rank with those poor spirits who neither enjoy nor suffer much, because they live in a gray twilight that knows not victory nor defeat."Theodore Roosevelt
August 27, 2019
EUR/USD 1.1102 GBP/USD 1.2287 USD/CAD 1.3241 AUD/USD 0.6761 USD/JPY 106.00 USD/CNH 7.1613 USD/ILS 3.5155 USD/MXN 19.9191 USD/CHF 0.9827 USD/INR 71.4850
The dollar marginally strengthened as trade talks with China are set to resume. The dollar strengthened and Wall Street staged a relief rally yesterday. On the data front, consumer confidence figures will be released today.GBP
The pound has risen in three of the last four days. The opposition Labour party met to talk about blocking a no-deal Brexit as Boris Johnson said the “EU does tend to come to an agreement right at the end” and he is “marginally more optimistic” about making a new deal.EUR
The euro is slightly weaker this morning. At the G7 meeting in France, European Council’s Donald Tusk said the EU will retaliate if the US imposes tariffs on French goods. Tusk’s comments follow president Trump’s threat to place tariffs on French wines in response to France’s new digital services tax, which affects US tech giants, including Amazon, Facebook and Google.CAD
The Canadian dollar strengthened as WTI oil price climbed yesterday.ASIA/PACIFIC
The Chinese yuan looks to be ending its worst month in history falling about 4%. Other Asian currencies also look very soft due to the trade dispute with China. The Aussie and New Zealand dollars both fell.
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