Major currencies await Sino-U.S. deal details, sterling ticks up
TOKYO - The Chinese yuan and the Australian dollar hovered below four-month highs touched last week in early Monday trade as investors pored over the U.S.-China trade deal, while sterling stayed strong after a decisive UK general election.
Washington and Beijing cooled their trade war last week, reducing some U.S. tariffs in exchange for what U.S. officials said would be a big jump in Chinese purchases of American farm products and other goods. “It is not that markets are unhappy with the agreement but we will inevitably see some position adjustments as we approach the year-end holiday period,” said Yukio Ishizuki, senior strategist at Daiwa Securities., slipping back from a four-month high of 6.9247 per dollar hit last week., easing from Friday's four-month high of $0.6930, up 0.05% so far in Asia, off four-month peak of $1.1200 set in Asian trade on Friday.
“We have seen over time more reports about the differences between what U.S. said and what China said about the agreement,” said Takafumi Yamawaki, head of fixed income research at JPMorgan Securities in Tokyo. “The U.S. talks about the size of U.S. farm products China will buy but China stayed mum.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil prices fall but hold near three-month high on trade deal agreementOil prices fell but remained near three-month highs on Monday after the United S...
Read more »
What It’s Really Like to Be an Airbnb LandlordOne Airbnb host made $32,000 in a year for two bedrooms. But there were the taxes…and the marijuana smell
Read more »
Sperm start-ups bet on declining male fertilityStart-ups want men to track, train or freeze their sperm.
Read more »
Harry Styles' fans in uproar as $25 tour tickets being resold for $1600High-up seats were being resold for $400 while the floor tickets were being sold off for $1600
Read more »
Katie Price faces bleak Christmas after she loses £2million 'Mucky Mansion'EXCLUSIVE: The former glamour model, once reportedly worth £45million, was declared bankrupt at the High Court last month after failing to settle debts estimated at £800,000
Read more »
CIT Bank has one of the best high-yield savings accounts available, and you only need $100 a month to make it worth your whileCIT Bank's high-yield savings account, Savings Builder, rewards you with its top APY of 1.85% for auto-deposits at least $100 a month.
Read more »