The U.S. Dollar Almost Fall Down Today
The U.S. Dollar Almost Fall Down Today. The trade talks between the US and China slam yet another difficulty due to which the stock market drop down on Tuesday in the U.S.
The U.S. Dollar slash down 0.06% to 98.94 by 9:15 PM ET (01:15 GMT). U.S. and China Officials are finding hard to plan the meetings. As per the report of Bloomberg, the U.S. has rejected a request to delay tariffs on about $110 billion of Chinese imports that took effect over the weekend.
Jim Paulsen, chief investment strategist at the Leuthold Group told Bloomberg that “There’s a difference between where we were Friday and where we are now in terms of tariffs actually going into effect” .
The People’s Bank of China (PBoC) set the reference rate for the yuan at 7.0878, a little stronger than Tuesday’s 7.0884.
The Institute of Supply Management, which reported that its purchasing managers’ index for August fell to 49.1 in the U.S., with a reading below 50 indicating a contraction. This data and other numbers are increasing the likelihood that the U.S. Federal Reserve will cut rates further later this year to spur growth.
The USD/JPY pair moved up 0.02% at 105.94.
The AUD/USD pair increased by 0.10% to 0.6764
The NZD/USD pair was level at 0.6334.
The investors are also watching the British pound sterling, which went down to its lowest level against the U.S. Dollar in about three years before recovering.
Parliament in the UK showed resistance over the past couple of days against Boris Johnson as part of an effort to prevent Brexit from happening without a deal.
The GBP/USD trade was moving up 0.06% to 1.2092
The EUR/USD was also up 0.05% to 1.0978.