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Dollar Steady as Trade Developments Eyed; Sterling Edges Up Before BoE


Thursday, 7 November 2019 16:11 WIB

DOLLARPoundsterling


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The dollar was holding steady against a currency basket on Thursday as investors continued to watch developments in Sino-U.S. trade negotiations, while the British pound edged higher ahead of the Bank of England’s latest policy meeting.

The U.S. dollar index against a basket of six major currencies was steady at 97.74 by 03:13 AM ET (08:13 GMT).

Washington and Beijing must simultaneously cancel some existing tariffs on each other's goods for both sides to reach a "phase one" trade deal, the Chinese commerce ministry said on Thursday. China indicated it was ready to negotiate how much tariffs should be canceled.

The comments came after reports on Wednesday that a meeting between U.S. President Donald Trump and Chinese President Xi Jinping to sign an interim trade deal could be delayed until December.

The dollar was little changed against the yen, at 108.93. The euro was a touch higher against the greenback at 1.1073.

German industrial output fell more than expected in September, data showed on Thursday, pointing to ongoing weakness in the sector and indicating that the Eurozone’s largest economy will slip into recession in the third quarter.

Sterling rose 0.14% to 1.2864 against the dollar, after briefly touching the lowest since Oct. 29. Against the euro, sterling was at 0.8604, trading in a narrow range before a BoE meeting later Thursday.

Source : Investing.com


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