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[size=36]The dollar is cutting gains as optimism about trade eases[/size]
Economy | 11:01 - 02/07/2019
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Follow up - Mawazine News
The dollar slipped on Tuesday as investor optimism over earlier progress in US-China trade talks eased, while the Australian currency remained unchanged from recent lows after the central bank's decision to cut prices Interest is limited on future monetary easing.
The yuan lost its gains in early trade, dropping during the session after US President Donald Trump said any deal with China should be leaning toward the United States to some extent, suggesting negotiations would not proceed smoothly.
Earlier, the dollar index rose against a basket of currencies to its highest level in a week but slipped amid doubts over the resumption of US-China efforts to settle the trade dispute.
The Australian dollar was up 0.3 percent at $ 0.6983 Tuesday after losing 0.9 percent on Monday, its biggest drop since April 24.
The dollar index was little changed at 96.790 on Tuesday, the biggest gain since the seventh since March on Monday, thanks to the hopes of Beijing and Washington making progress in trade negotiations.
The euro briefly fell to its lowest level in eight days to $ 1.1275 before settling at $ 1.1289. The single currency lost 0.7 percent on Monday, its biggest daily loss since March, as disappointing economic data dampened bond yields and boosted expectations for a cut in the European Central Bank's interest rate.
The yuan lost its gains in early trade, dropping during the session after US President Donald Trump said any deal with China should be leaning toward the United States to some extent, suggesting negotiations would not proceed smoothly.
Earlier, the dollar index rose against a basket of currencies to its highest level in a week but slipped amid doubts over the resumption of US-China efforts to settle the trade dispute.
The Australian dollar was up 0.3 percent at $ 0.6983 Tuesday after losing 0.9 percent on Monday, its biggest drop since April 24.
The dollar index was little changed at 96.790 on Tuesday, the biggest gain since the seventh since March on Monday, thanks to the hopes of Beijing and Washington making progress in trade negotiations.
The euro briefly fell to its lowest level in eight days to $ 1.1275 before settling at $ 1.1289. The single currency lost 0.7 percent on Monday, its biggest daily loss since March, as disappointing economic data dampened bond yields and boosted expectations for a cut in the European Central Bank's interest rate.
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