Currency trading-Dollar weakens as U.S., China signal trade offer – Reuters Uk

    * U.S., China signal preliminary trade offer 
    * Uk inflation weaker than envisioned

 (Adds U.S., China trade agreement, updates costs)
    By Karen Brettell
    NEW YORK, Jan fifteen (Reuters) - The dollar pared losses but
remained lower against the euro and the yen on Wednesday after
the United States and China signed a offer to de-escalate their
trade war.
    The two nations around the world declared an first trade offer on
Wednesday that will roll back some tariffs and raise Chinese
purchases of U.S. goods and expert services, defusing an eighteen-month
conflict involving the world's two premier economies.
    But the offer will depart in position twenty five% tariffs on a large, $250
billion array of Chinese industrial goods and components applied by
U.S. manufacturers.
    There is "not much of a reaction at all to the trade offer
signing," said Shaun Osborne, chief forex strategist at Scotiabank
in Toronto.
    It may well be a gentle negative going ahead for the buck,
even so.
    "The dollar has finished comparatively effectively out of the uncertainty
factor that this protracted trade war has prompted," Osborne
said. "So, at the margin we feel it’s a dollar negative."
    The euro was final up .22% against the buck
at$1.1151. The dollar dropped .05% against the yen to
109.91, after the Japanese currency on Tuesday strike its weakest
stage since May possibly at 110.20.
    Sterling edged greater, reversing earlier losses after
data confirmed Uk inflation rose at its slowest in three years,
feeding anticipations the Financial institution of England would cut prices in
    “Directionally the current market envisioned some weak spot, but
in all probability the magnitude amazed,” said Vassili Serebriakov, an
forex strategist at UBS in New York.
    The Swiss franc gained to its strongest against the
dollar in about a year, and its optimum against the euro
 in just about three years, after the United States on
Monday extra Switzerland to its watchlist of currency
    Analysts said the inclusion could discourage the Swiss
National Financial institution (SNB) from intervening to test to limit more
appreciation of the franc, even though the Swiss finance ministry
said it would have no rapid penalties.
    The Russian rouble weakened after the resignation of Key
Minister Dmitry Medvedev's govt.
    Forex bid costs at two:17PM (1917 GMT)
 Description      RIC         Past           U.S. Near  Pct Modify     YTD Pct     Large Bid    Minimal Bid
                                              Preceding                   Modify                 
 Euro/Dollar      EUR=        $1.1151        $1.1127     +.22%         -.53%      +1.1163     +1.1119
 Dollar/Yen       JPY=        109.9100       109.9700    -.05%         +.96%      +110.0100   +109.8000
 Euro/Yen         EURJPY=     122.55         122.39      +.thirteen%         +.49%      +122.7100   +122.2100
 Dollar/Swiss     CHF=        .9635         .9672      -.38%         -.forty four%      +.9680     +.9631
 Sterling/Dollar  GBP=        1.3025         1.3017      +.06%         -1.76%      +1.3042     +1.2988
 Dollar/Canadian  CAD=        1.3045         1.3060      -.11%         +.forty five%      +1.3078     +1.3035
 Australian/Doll  AUD=        .6901         .6900      +.01%         -1.71%      +.6916     +.6878
 Euro/Swiss       EURCHF=     1.0748         1.0765      -.sixteen%         -.96%      +1.0776     +1.0743
 Euro/Sterling    EURGBP=     .8558         .8549      +.11%         +1.23%      +.8578     +.8538
 NZ               NZD=        .6610         .6613      -.05%         -1.87%      +.6620     +.6585
 Dollar/Norway    NOK=        8.8620         8.8714      -.11%         +.ninety five%      +8.8959     +8.8512
 Euro/Norway      EURNOK=     nine.8825         nine.8720      +.11%         +.forty five%      +nine.9010     +nine.8733
 Dollar/Sweden    SEK=        nine.4580         nine.4632      +.eighteen%         +1.eighteen%      +nine.4860     +nine.4421
 Euro/Sweden      EURSEK=     ten.5493        ten.5308     +.eighteen%         +.seventy seven%      +ten.5648    +ten.5310

 (Modifying by David Gregorio and Marguerita Choy)

Let us block advertisements! (Why?)

Scalping Strategy Course (DVD + Online) - $299.00

In the much anticipated Forex Scalping Strategy Course, Vic and Sarid show you short-term focused techniques and strategies to make quicker profits while reducing market exposure.

Forexmentor Coach's Corner First Month (Online) - $149.00

The Coach's Corner offers 2 live sessions per week, an integrated approach to trading, FREE access to the VicTrade video course and Darko's Pattern Trading Video Lessons.

Source backlink

Have your say