FOREX-Yen gains as report casts doubts on trade deal - Reuters

    * CNBC reports that China is pessimistic about tariffs
    * Sterling gains on hopes of Brexit deal

 (New throughout, updates prices, market activity and comments
to U.S. market open, new byline, changes dateline, previous
LONDON)
    By Karen Brettell
    NEW YORK, Nov 18 (Reuters) - The safe haven Japanese yen
gained on Monday after a media report dashed fresh hopes that
the United States and China are close to reaching a trade deal.
    CNBC reported that China is pessimistic about reaching a
trade deal due to U.S. President Donald Trump’s reluctance to
roll back tariffs.
    It came after Chinese state media Xinhua said on Sunday that
China and the United States had "constructive talks" on trade in
a high-level phone call on Saturday.
    “I think the market is overreacting to this,” said Mazen
Issa, senior FX strategist at TD Securities in New York. “There
was nothing substantive that came out that suggested the deal is
off or on, it’s just the ebb and flow” of the news each day.
    Investors are looking for signs that tariffs imposed on each
country’s goods will be rolled back, as they are viewed as
harming global economic growth.
    Another round of U.S. tariffs on Chinese goods is scheduled
to take effect on Dec. 15.
    The yen gained to 108.64, from 109.02 before the CNBC
report was released.
    The euro reached at 10-day high against the greenback
at 1.1063.
    The single currency has rebounded from a more than two-year
low of 1.0877 on  Oct. 1 on optimism a trade deal will be
signed.
    "Market participants remain optimistic that a partial
U.S.-China trade deal will be signed soon and have welcomed
tentative signs of economic improvement outside of the U.S.,
especially in the euro zone, both of which are eroding the
relative appeal of the U.S. dollar," Lee Hardman, currency
analyst at MUFG, said.
    Still analysts say that the European and global economies
need to show more strength to sustain a euro rally.
    “One of the things the euro is, is a pro-cyclical or growth
currency and so when global growth performs well you tend to see
the euro perform well, but we’re not there yet,” said TD's Issa.
    Sterling, meanwhile, was boosted by expectations that the
Conservative (Tory) Party could win a majority in the Dec. 12
election.
    It was also supported by British Prime Minister Boris
Johnson saying that all Tory candidates in the election have
pledged to back his Brexit deal, which could open the door to
getting the agreement through parliament.
    
    ========================================================
    Currency bid prices at 9:42AM (1442 GMT)
 Description      RIC         Last           U.S. Close  Pct Change     YTD Pct     High Bid    Low Bid
                                              Previous                   Change                 
                                              Session                                           
 Euro/Dollar      EUR=        $1.1063        $1.1050     +0.12%         -3.54%      +1.1068     +1.1050
 Dollar/Yen       JPY=        108.6400       108.7300    -0.08%         -1.47%      +109.0600   +108.6300
 Euro/Yen         EURJPY=     120.19         120.20      -0.01%         -4.78%      +120.6800   +120.1000
 Dollar/Swiss     CHF=        0.9880         0.9897      -0.17%         +0.67%      +0.9914     +0.9882
 Sterling/Dollar  GBP=        1.2963         1.2899      +0.50%         +1.61%      +1.2984     +1.2901
 Dollar/Canadian  CAD=        1.3223         1.3221      +0.02%         -3.04%      +1.3235     +1.3210
 Australian/Doll  AUD=        0.6805         0.6819      -0.21%         -3.46%      +0.6822     +0.6799
 ar                                                                                             
 Euro/Swiss       EURCHF=     1.0931         1.0937      -0.05%         -2.87%      +1.0962     +1.0931
 Euro/Sterling    EURGBP=     0.8534         0.8565      -0.36%         -5.01%      +0.8566     +0.8523
 NZ               NZD=        0.6396         0.6399      -0.05%         -4.78%      +0.6412     +0.6391
 Dollar/Dollar                                                                                  
 Dollar/Norway    NOK=        9.1201         9.0898      +0.33%         +5.57%      +9.1330     +9.0642
 Euro/Norway      EURNOK=     10.0914        10.0410     +0.50%         +1.87%      +10.0988    +10.0272
 Dollar/Sweden    SEK=        9.6394         9.6390      +0.09%         +7.54%      +9.6490     +9.6195
 Euro/Sweden      EURSEK=     10.6654        10.6557     +0.09%         +3.91%      +10.6697    +10.6430
 
    

 (Editing by Karen Brettell; Additional reporting by Olga Cotaga
in London; Editing by Steve Orlofsky)
  

Our Standards:The Thomson Reuters Trust Principles.

Let's block ads! (Why?)

"forex" - Google News
November 18, 2019 at 10:02PM
https://ift.tt/34btTDe

FOREX-Yen gains as report casts doubts on trade deal - Reuters
"forex" - Google News
https://ift.tt/2NYydz4
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update

Bagikan Berita Ini