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The US dollar has been heavily lower over Friday morning on the back of the announcement that the US and China have signed the phase one trade deal. With an initial trade deal in place, the next round of US tariffs due on Sunday has now been canceled. The sense of relief is palpable today, with equities having soared to fresh highs and USD lower amidst safe-haven outflows. USD index trades 96.42 last.
EUR Higher on ECB Optimism
EURUSD has been sharply higher today on the back of the weakness seen in USD. In her first monetary policy meeting as ECB chief yesterday, Lagarde struck a slightly more optimistic tone.
She noted that while there are still downside risks to the eurozone economy, these risks have reduced slightly recently. EURUSD trades 1.1177 last, heading back towards 1.1217 resistance.
Conservatives Gain Power
GBPUSD has been sharply lower today. Despite the Conservative party win ...
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