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Dollar Slips as Traders Digest Latest Trade News; Powell's Speech in Focus


Thursday, 10 October 2019 13:14 WIB

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The U.S. dollar slipped as traders digested the latest Sino-U.S. trade news. A speech by U.S. Federal Reserve Chairman Jerome Powell also received some focus overnight.

The U.S. dollar index that tracks the greenback against a basket of other currencies slipped 0.1% to 98.722.

A South China Morning Post (SCMP) reported this morning that Sino-U.S. trade discussions had made “no progress” and the principal Chinese negotiators might cut short their stay.

However, other reports said that top Chinese envoy Liu He would stay in Washington through Friday.

The USD/CNY pair dropped 0.2% to 7.1145.

The GBP/USD pair rebounded 0.2% to 1.2227 despite increasingly bitter exchanges between London and other European capitals, which further increased the risk of a disorderly “No-Deal Brexit”.

The USD/JPY pair was little changed at 107.47.

Source: Investing.com


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