The dollar hovered below 2-1/2-month highs against the yen on Tuesday, failing t...
SYDNEY - The dollar hovered below 2-1/2-month highs against the yen on Tuesday, failing to extend recent gains as optimism over trade negotiations between the world’s two largest economies and for an orderly British exit from the European Union started to fade.
Although markets initially welcomed the “Phase 1” trade deal between the United States and China that President Donald Trump outlined last week, a lack of details kept many investors cautious. “Market participants are conscious that previous U.S.-China ‘agreements’ have subsequently broken down amidst misunderstandings among the two sides.”
The negotiation between the UK and the European Union over Britain’s exit also looked equally fleeting.
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