Markets continued to trade in a risk-on fashion yesterday following reports that China is willing to reduce tariffs on US autos, as well as Trump’s remarks that he would intervene in the Huawei case. The pound was once again the main loser among the G10s, following reports that Conservative MPs submitted the 48 letters needed to trigger a leadership challenge against PM May.
China to Slash Auto Tariffs, Trump Could Intervene in Huawei Case
The dollar traded mixed against the other currencies on Tuesday. It gained against GBP, CHF, EUR, JPY and SEK in that order, while it underperformed against CAD, AUD and NZD. The greenback traded virtually unchanged versus SEK.
The G10 performance pattern suggests that risk appetite remained supported yesterday. Following news that Chinese and US officials have been in discussions in order to set a...
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