Progress in US-China trade deal rises in dollars
14:30 - 26/10/2019
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The dollar rallied on Saturday after US and Chinese trade officials came close to finalizing parts of the first phase of a trade deal, the US Trade Representative's office said.
The dollar index rose 0.20 percent in afternoon trade to 97.826, the US currency rose against the euro 0.21 percent to 1.108 dollars, and 0.19 percent against the pound to reach 1.283 dollars.
“Most of the dynamics of foreign exchange rates in the past year have come from global trade tensions, so anything that affects it positively or negatively will be a bigger engine than today's data,” said Shehab Galinos, director of foreign exchange strategy at Credit Suisse. He pointed out that the next major event would be the APEC summit in mid-November