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USD Falls on Trump’s Remarks, US-China Talks Begin | Daily Market Report

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The dollar came under selling interest on Monday after US President Trump once again criticized the Fed for raising interest rates. The overall positive market sentiment ahead of the US-China trade talks may have also kept the greenback weak as investors continued to divert flows out of the safe-haven currency.

Trump “Not Thrilled” Over Higher Rates, US and China Restart Talks

The greenbak remained on the back foot against all the other G10 currencies yesterday, pressured by US President Trump’s remarks over higher interest rates, and also as investors continued to divert flows out of the safe-haven currency ahead of the US-China trade talks. Indeed, the risk-on market mood is also evident by the performance of global equity markets. Major European and US stock indices were a sea of green yesterday, while during the Asian morning today, Japan’s Nikkei 225 and China’s Shanghai Composite Index were up 0.20% and 1.30% respectively.

Today, the US and China are expected to begin a round of two-day talks. just before Thursday, when tariffs on USD 16bn worth of products targeted by each country go into effect. Although the market has reacted positively on the news that the two sides are willing to...

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Source: https://www.jfdbrokers.com/en/research/usd-falls-on-trump-remarks-us-china-talks-begin
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