SINGAPORE (Reuters) – The dollar found broad support on Friday as fresh signs of a global economic slowdown and little visible progress toward a Sino-U.S. trade truce put investors in a risk-averse mood.
The latest evidence that the U.S.-China trade war has hurt the global economy was illustrated by sub-par growth figures on Thursday from China and Japan, followed by lacklustre updates in Britain and Europe.
Media - Reports - Negotiations - Dispute
Overnight media reports also suggested negotiations to end the damaging dispute had stalled.
The Financial Times, citing unidentified people close to the talks, said an agreement may not be reached in time to avoid a new round of U.S. tariffs taking effect on Dec. 15.
White - House - Advisor - Larry - Kudlow
White House economic advisor Larry Kudlow told an event at the Council on Foreign Relations in Washington late on Thursday that a deal was “getting close”, but offered no new details and similarly failed to shift the sentiment.
“No news on trade negotiations is becoming bad news,” said CMC Markets’ Chief Strategist in Sydney, Michael McCarthy.
Dollar - Ground - Yen - Overnight - %
The dollar clawed back some of the ground it gave to the safe-haven yen overnight, rising 0.1% to buy 108.55 yen, and kept hold of overnight gains against the Australian and New Zealand dollars.
Against a basket of currencies , the dollar last traded at 98.163. The euro was stable at $1.1020. Moves were slight as investors looked for concrete news on the trade front.
Risk - Event - Development - Jason - Wong
“Once that risk event’s cleared, it would be a positive development,” said Jason Wong, senior market strategist at BNZ in Wellington....
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Why do democrats never have to face the reality of what's on the ground, like 2000 years of marriage.