U.S. Dollar Fluctuates Amid Uncertainty About Trade Talks

Trading 19 fév 2019 Donner votre avis

Reflecting uncertainty about trade talks between the U.S. and China, the value of the U.S. dollar has fluctuated over the course of trading on Tuesday.

The U.S. dollar is currently trading at 110.60 yen compared to yesterday's 110.62 yen. Against the euro, the dollar is valued at $1.1342 compared to yesterday's $1.1311.

Meanwhile, the British pound has shown a notable advance versus the dollar, climbing to $1.3066 from $1.2924.

The choppy trading came as the next round of U.S.-China trade talks get underway in Washington, D.C. this week.

News that China accused the U.S. of attempting to curtail its technology development by putting pressure on allies to shun networks supplied by Huawei Technologies raised concerns about tensions between the world's two largest economies.

However, President Donald Trump later told reporters the U.S.-China trade talks are "going very well" and once again hinted that an early March deadline to reach a deal could be postponed.

"I can't tell you exactly about timing, but the date is not a magical date," Trump said in the Oval Office. "A lot of things can happen."

Trump claimed China is "trying to move fast" so that an increase in tariffs on Chinese goods currently set to take effect does not happen.

On the U.S. economic front, the National Association of Home Builders released a report showing a much bigger than expected improvement in homebuilder confidence in the month of February.

The report said the NAHB/Wells Fargo Housing Market Index climbed to 62 in February after rising to 58 in January. Economists had expected the index to inch up to 59.

With the increase, the index continued to recover after hitting a more than three-year low of 56 in December.

"Ongoing reduction in mortgage rates in recent weeks coupled with continued strength in the job market are helping to fuel builder sentiment," said NAHB Chairman Randy Noel.

He added, "In the aftermath of the fall slowdown, many builders are reporting positive expectations for the spring selling season."

The material has been provided by InstaForex Company - www.instaforex.com

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