Risk aversion prevailed overnight following reports that US President Trump asked for additional tariffs on USD 200bn worth of Chinese goods. Oil prices traded higher yesterday following reports that OPEC members are considering a compromise deal at this week’s meeting in Vienna, with some members optimistic that they could agree on a production increase of 300-600k bpd.
The US dollar traded mixed against the other G10 currencies on Monday. It gained against AUD, CAD and SEK in that order, while it underperformed versus JPY, CHF, NOK and EUR. The greenback ended the day virtually unchanged against GBP and NZD.
Investors abandoned the commodity-linked currencies and sought shelter to the safe havens following overnight reports that US President Donald Trump asked his US Trade Representative Robert Lighthizer to identify USD 200bn in Chinese goods for additional tariffs at a rate of 10%...
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