* Dollar firms on optimism on U.S.-China trade deal * But Trump knocks Fed Chairman Powell, strong dollar * Euro slips ahead of expected dovish ECB message * Graphic: World FX rates in 2019 tmsnrt.rs/2egbfVh (Updates market action, changes dateline, previous LONDON) By Richard Leong NEW YORK, March 4 (Reuters) - The dollar rose against a basket of major currencies on Monday on traders' bets that China and the United States are moving closer to a trade deal that would end sparring between the world's two biggest economies. The greenback gained for a fourth straight day, bolstered by the rise in U.S. bond yields with benchmark 10-year yields hitting one-month peaks last week. The gap between benchmark 10-year yields in the United States and Germany has widened to 257 basis points from 240 basis points at the beginning of the year. The United States and China appeared to be close to a deal that would roll back U.S. tariffs on at least $200 billion worth of Chinese imports, a source briefed on negotiations said on Sunday, but the timing and details for a deal remained unclear. "Constructive reports on U.S.-China trade fueled optimism that the world’s two biggest economies might be weeks away from a formal breakthrough," Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington. At 11:05 a.m. (1605 GMT), the ICE dollar index was up 0.24 percent at 96.756. The Chinese yuan edged up 0.1 percent to 6.7089 to the dollar in offshore trade, close to last week's 7 1/2-month high of 6.6737. The euro was notably weaker against the greenback, falling 0.39 percent at 1.1324. Some analysts now expect a fresh round of bank funding at a European Central Bank meeting later this week that would boost the dollar. "With so much dovishness priced before the ECB meeting this week, Draghi will struggle to exceed market expectations and this may help the euro," said Valentin Marinov, head of G10 FX research at Credit Agricole based in London. The dollar's increase came after comments from U.S. President Donald Trump who on Saturday renewed his criticism of Federal Reserve Chairman Jerome Powell. Trump blamed the central bank's current monetary stance for boosting the dollar, which he believes is hurting U.S. exports. The greenback was hovering near a 10-week high of 112.08 yen reached on Friday. It was last at 111.805 yen, marginally lower on the day. Speculators increased their bullish dollar bets in mid-February to their highest level in four weeks, Commodity Futures Trading Commission data released on Friday showed. ======================================================== Currency bid prices at 11:03AM (1603 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar EUR= $1.1320 $1.1374 -0.47% -1.30% +1.1395 +1.1310 Dollar/Yen JPY= 111.8000 111.9000 -0.09% +1.41% +112.0100 +111.7300 Euro/Yen EURJPY= 126.58 127.20 -0.49% +0.29% +127.4100 +126.5900 Dollar/Swiss CHF= 0.9998 0.9988 +0.10% +1.87% +1.0020 +0.9976 Sterling/Dollar GBP= 1.3172 1.3202 -0.23% +3.25% +1.3273 +1.3168 Dollar/Canadian CAD= 1.3323 1.3295 +0.21% -2.30% +1.3327 +1.3275 Australian/Doll AUD= 0.7083 0.7080 +0.04% +0.48% +0.7118 +0.7076 ar Euro/Swiss EURCHF= 1.1321 1.1351 -0.26% +0.58% +1.1367 +1.1317 Euro/Sterling EURGBP= 0.8593 0.8605 -0.14% -4.35% +0.8600 +0.8559 NZ NZD= 0.6797 0.6799 -0.03% +1.19% +0.6832 +0.6797 Dollar/Dollar Dollar/Norway NOK= 8.6477 8.5793 +0.80% +0.10% +8.6567 +8.5545 Euro/Norway EURNOK= 9.7917 9.7555 +0.37% -1.15% +9.7986 +9.7383 Dollar/Sweden SEK= 9.3396 9.2693 +0.37% +4.19% +9.3456 +9.2477 Euro/Sweden EURSEK= 10.5733 10.5347 +0.37% +3.01% +10.5794 +10.5226 (Additional reporting by Saikat Chatterjee in LONDON Editing by Mark Heinrich and Susan Thomas)
Read Again FOREX-Dollar strengthens on hopes for U.S.-China trade deal - Reuters : https://ift.tt/2HdB7OI
Bagikan Berita Ini
0 Response to "FOREX-Dollar strengthens on hopes for U.S.-China trade deal - Reuters"
Post a Comment