China Taps the Brakes

Daily Forex Signals – China made it easier for traders to bet the yuan will fall in value.

China Taps the Brakes – Dollar Edges Higher as Stimulus Talks Stumble; Losses Loom

no deal between UK and EU

FxPremiere.com – The dollar edged higher in early European trade Monday, with negotiations over the latest stimulus measures in the U.S. seemingly in difficulties as the election approaches.

China’s exports imports fell in March

At 2:55 AM ET (0655 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was up 1% at 93.108, regaining a little ground after recording its biggest loss in six weeks on Friday, falling to a near-three-week low of 92.997.

Dollar Up as U.S. China Tensions Escalate

Elsewhere, EUR/USD dropped 0.1% to 1.1814, USD/JPY was down 0.1% at 105.50, GBP/USD was flat at 1.3050, while the risk-sensitive AUD/USD fell 0.2% to 0.7227.

The dollar had been hard hit Friday on hopes that a deal for new U.S. stimulus would be reached, reducing the need for this safe haven currency, after the Trump administration proposed a new $1.8 trillion package.

EUR/USD to Snap 2-Week Losing Streak

However, this offer ran into opposition from both sides, with the Democrats saying it was not comprehensive enough and the hard-line Republicans worried about the extent that this would increase the country’s debt pile.

Signal Dollar Down Amid Rising U.S.- China Tensions

China’s Digital Yuan

“A ‘blue wave’ U.S. election and favorable news on the vaccine timeline could return the trade-weighted dollar and DXY index to their 2018 lows.”

Learn Forex Online

The yuan hit a 17-month high on Friday, having gained more than 6% against the dollar since late May. At 2:55 AM ET, USD/CNY traded 0.3% higher at 6.7160.

Trade better, discover more Forex Signals Strategies
Better Still Sign Up For our FX Signals Daily
Read more on Forex News Today
Download our Forex Signals APP

Join our 21,345  Subscribers Forex Signal Packages!!