Successful communication between America and China lowers the dollar and raises trade-related currencies

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The US dollar fell, while its Australian counterpart and the Chinese yuan rose after the United States and China described a successful phone call between the two countries ’trade officials.
This boosted investor confidence that trade relations could last even as differences prevailed in diplomatic relations between the two countries.

During the call, originally scheduled for August 15, US Trade Representative Robert Lighthizer and Treasury Secretary Stephen Mnuchin spoke with Chinese Vice Premier Li Keqiang.

The United States said the two sides “expect progress”, while the Chinese Ministry of Commerce described the talks as “constructive.”

The news contributed to the rise of the Australian dollar 0.2 percent to 0.7171 US dollars, and the Chinese yuan advanced slightly to 6.9070.

The US currency fell against the euro 0.2 percent to $ 1.1813, and against the pound, to $ 1.3088.

The dollar only rose against the Japanese yen, as it rose 0.2 percent to 106.17 yen.

(Reuters)





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