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US Removes China from Currency Manipulators’ List, GBP Slides on Weak Data

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Risk sentiment remained largely supported yesterday, perhaps due to optimism surrounding the signing of a “Phase One” trade deal between the US and China, especially after the US Treasury removed China from its currency manipulators’ list. As for today, participants may pay attention to the US CPIs for December, as they try to figure out the Fed’s next steps. The pound was among yesterday’s loser, feeling the heat of disappointing data, which raised the chances of a BoE rate cut.

US Drops China’s Currency Manipulator Label, US CPIs on The Agenda

The dollar traded higher against most of the other G10 currencies on Monday and during the Asian morning Tuesday. It gained the most against JPY, NZD, GBP and AUD, while it underperformed versus SEK, CHF, and slightly against EUR.

In the equity world, major EU indices traded in negative territory, but the US ones gained, with both the...

Read the full financial markets daily report on JFD Research.

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Source: https://www.jfdbank.com/en/research/us-removes-china-from-currency-manipulators-list-gbp-slides-on-weak-data-20200114
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