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Business Recorder
2 days ago
- Business
- Business Recorder
Dollar holds steady after US, China reach framework deal to ease export curbs
The dollar was steady against its major peers on Wednesday, after US and China agreed on a framework for a trade agreement that investors hoped could potentially pave the way to resolving a damaging trade war between the world's two largest economies. In early Asia trading, the dollar was down 0.14% against the Japanese yen at 144.770, and slipped 0.13% against the Swiss franc to last change hands at 0.8218. The euro was flat at $1.1427, while China's offshore yuan was little changed at 7.1881 per dollar. An index that measures the greenback against six other currencies was little changed and was last at 99.068. US Commerce Secretary Howard Lutnick said that US and Chinese officials concluded keenly watched talks in London that lasted for two days and agreed to put their trade truce reached last month in Geneva back on track. The framework included resolving China's export restrictions on rare earth minerals and magnets, and will also remove some US export restrictions that were recently put in place. 'The devil is going to be in the details and importantly whether this can help to reestablish trust between President Xi and President Trump, which has clearly been broken since the Geneva Agreement was published,' said Ray Attrill, head of FX strategy at National Australia Bank. 'But it's way too early to say that we know we're in the midst of establishing a cast iron, new US-China trade agreement.' Much of the year has been dominated by investors fretting over the likelihood that US President Donald Trump's erratic policies could tip the US economy into a recession, and in turn hurt global growth. US dollar flat to slightly lower The erosion of investor confidence in US assets has severely undermined the dollar, which is down more than 8% so far this year. Later in the day, investors will closely parse a US consumer inflation report that could reflect the economic impact of tariffs on prices, potentially determining the trajectory of the Federal Reserve's monetary policy for the rest of the year. The Fed is expected to hold rates steady next week, with traders pricing in nearly two 25-basis-point cuts by the end of the year. UK's sterling was marginally higher at $1.35 as markets awaited British finance minister Rachel Reeves' public spending plans. The currency came under pressure overnight after data pointed to a weak labour market.
CNBC
2 days ago
- Business
- CNBC
Dollar holds steady after U.S., China reach framework deal to ease export curbs
The dollar was steady against its major peers on Wednesday, after U.S. and China agreed on a framework for a trade agreement that investors hoped could potentially pave the way to resolving a damaging trade war between the world's two largest economies. In early Asia trading, the dollar was down 0.14% against the Japanese yen at 144.770, and slipped 0.13% against the Swiss franc to last change hands at 0.8218. The euro was flat at $1.1427, while China's offshore yuan was little changed at 7.1881 per dollar. An index that measures the greenback against six other currencies was little changed and was last at 99.068. U.S. Commerce Secretary Howard Lutnick said that U.S. and Chinese officials concluded keenly watched talks in London that lasted for two days and agreed to put their trade truce reached last month in Geneva back on track. The framework included resolving China's export restrictions on rare earth minerals and magnets, and will also remove some U.S. export restrictions that were recently put in place. "The devil is going to be in the details and importantly whether this can help to reestablish trust between President Xi and President Trump, which has clearly been broken since the Geneva Agreement was published," said Ray Attrill, head of FX strategy at National Australia Bank. "But it's way too early to say that we know we're in the midst of establishing a cast iron, new U.S.-China trade agreement." Much of the year has been dominated by investors fretting over the likelihood that U.S. President Donald Trump's erratic policies could tip the U.S. economy into a recession, and in turn hurt global growth. The erosion of investor confidence in U.S. assets has severely undermined the dollar, which is down more than 8% so far this year. Later in the day, investors will closely parse a U.S. consumer inflation report that could reflect the economic impact of tariffs on prices, potentially determining the trajectory of the Federal Reserve's monetary policy for the rest of the year. The Fed is expected to hold rates steady next week, with traders pricing in nearly two 25-basis-point cuts by the end of the year. UK's sterling was marginally higher at $1.35 as markets awaited British finance minister Rachel Reeves' public spending plans. The currency came under pressure overnight after data pointed to a weak labor market.
New Straits Times
2 days ago
- Business
- New Straits Times
Dollar holds steady after US, China reach framework deal to ease export curbs
KUALA LUMPUR: The dollar was steady against its major peers on Wednesday, after the United States and China agreed on a framework for a trade agreement that investors hoped could potentially pave the way to resolving a damaging trade war between the world's two largest economies. In early Asia trading, the dollar was down 0.14 per cent against the Japanese yen at 144.770, and slipped 0.13 per cent against the Swiss franc to last change hands at 0.8218. The euro was flat at US$1.1427, while China's offshore yuan was little changed at 7.1881 per dollar. An index that measures the greenback against six other currencies was little changed and was last at 99.068. US Commerce Secretary Howard Lutnick said that US and Chinese officials concluded keenly watched talks in London that lasted for two days and agreed to put their trade truce reached last month in Geneva back on track. The framework included resolving China's export restrictions on rare earth minerals and magnets, and will also remove some US export restrictions that were recently put in place. "The devil is going to be in the details and importantly whether this can help to re-establish trust between President Xi and President Trump, which has clearly been broken since the Geneva Agreement was published," said Ray Attrill, head of FX strategy at National Australia Bank. "But it's way too early to say that we know we're in the midst of establishing a cast iron, new US-China trade agreement." Much of the year has been dominated by investors fretting over the likelihood that US President Donald Trump's erratic policies could tip the US economy into a recession, and in turn hurt global growth. The erosion of investor confidence in US assets has severely undermined the dollar, which is down more than eight per cent so far this year. Later in the day, investors will closely parse a US consumer inflation report that could reflect the economic impact of tariffs on prices, potentially determining the trajectory of the Federal Reserve's monetary policy for the rest of the year. The Fed is expected to hold rates steady next week, with traders pricing in nearly two 25-basis-point cuts by the end of the year. The UK's sterling was marginally higher at US$1.35 as markets awaited British finance minister Rachel Reeves' public spending plans. The currency came under pressure overnight after data pointed to a weak labour market.
Economic Times
2 days ago
- Business
- Economic Times
Dollar holds steady after US, China reach framework deal to ease export curbs
The dollar remained stable against major currencies on Wednesday. This followed an agreement between the United States and China on a trade framework. The deal aims to resolve the trade war. Investors are watching for details. They hope it will rebuild trust between President Xi and President Trump. The market also awaits U.S. inflation data and UK's public spending plans. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The dollar was steady against its major peers on Wednesday, after U.S. and China agreed on a framework for a trade agreement that investors hoped could potentially pave the way to resolving a damaging trade war between the world's two largest early Asia trading, the dollar was down 0.14% against the Japanese yen at 144.770, and slipped 0.13% against the Swiss franc to last change hands at euro was flat at $1.1427, while China's offshore yuan was little changed at 7.1881 per index that measures the greenback against six other currencies was little changed and was last at 99.068. U.S. Commerce Secretary Howard Lutnick said that U.S. and Chinese officials concluded keenly watched talks in London that lasted for two days and agreed to put their trade truce reached last month in Geneva back on framework included resolving China's export restrictions on rare earth minerals and magnets, and will also remove some U.S. export restrictions that were recently put in place."The devil is going to be in the details and importantly whether this can help to reestablish trust between President Xi and President Trump, which has clearly been broken since the Geneva Agreement was published," said Ray Attrill, head of FX strategy at National Australia Bank."But it's way too early to say that we know we're in the midst of establishing a cast iron, new U.S.-China trade agreement."Much of the year has been dominated by investors fretting over the likelihood that U.S. President Donald Trump's erratic policies could tip the U.S. economy into a recession, and in turn hurt global erosion of investor confidence in U.S. assets has severely undermined the dollar, which is down more than 8% so far this in the day, investors will closely parse a U.S. consumer inflation report that could reflect the economic impact of tariffs on prices, potentially determining the trajectory of the Federal Reserve's monetary policy for the rest of the Fed is expected to hold rates steady next week, with traders pricing in nearly two 25-basis-point cuts by the end of the sterling was marginally higher at $1.35 as markets awaited British finance minister Rachel Reeves' public spending plans. The currency came under pressure overnight after data pointed to a weak labour market.
Time of India
2 days ago
- Business
- Time of India
Dollar holds steady after US, China reach framework deal to ease export curbs
The dollar was steady against its major peers on Wednesday, after U.S. and China agreed on a framework for a trade agreement that investors hoped could potentially pave the way to resolving a damaging trade war between the world's two largest economies. In early Asia trading, the dollar was down 0.14% against the Japanese yen at 144.770, and slipped 0.13% against the Swiss franc to last change hands at 0.8218. The euro was flat at $1.1427, while China's offshore yuan was little changed at 7.1881 per dollar. An index that measures the greenback against six other currencies was little changed and was last at 99.068. U.S. Commerce Secretary Howard Lutnick said that U.S. and Chinese officials concluded keenly watched talks in London that lasted for two days and agreed to put their trade truce reached last month in Geneva back on track. Live Events The framework included resolving China's export restrictions on rare earth minerals and magnets, and will also remove some U.S. export restrictions that were recently put in place. "The devil is going to be in the details and importantly whether this can help to reestablish trust between President Xi and President Trump, which has clearly been broken since the Geneva Agreement was published," said Ray Attrill, head of FX strategy at National Australia Bank. "But it's way too early to say that we know we're in the midst of establishing a cast iron, new U.S.-China trade agreement." Much of the year has been dominated by investors fretting over the likelihood that U.S. President Donald Trump's erratic policies could tip the U.S. economy into a recession, and in turn hurt global growth. The erosion of investor confidence in U.S. assets has severely undermined the dollar, which is down more than 8% so far this year. Later in the day, investors will closely parse a U.S. consumer inflation report that could reflect the economic impact of tariffs on prices, potentially determining the trajectory of the Federal Reserve's monetary policy for the rest of the year. The Fed is expected to hold rates steady next week, with traders pricing in nearly two 25-basis-point cuts by the end of the year. UK's sterling was marginally higher at $1.35 as markets awaited British finance minister Rachel Reeves' public spending plans. The currency came under pressure overnight after data pointed to a weak labour market.
