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Foreign Exchange

Date: March 4, 2019

The Australian dollar and the Chinese yuan inched up on hopes Washington and Beijing were close to a trade deal after a bitter year-long tariff dispute.

 
 

The Aussie gained as much as 0.57 percent to $0.7118, before giving up some of its gains to $0.7085 following soft business inventories and declines in job advertisements and dwelling approvals.

 

The British pound found support on receding fears that Britain will leave the European Union without a deal after Prime Minister Theresa May said last week lawmakers would get to vote on a delay to Brexit if they choose not to approve her withdrawal agreement.

 

President Donald Trump on Saturday renewed criticism of the Federal Reserve and said the U.S. central bank’s tight monetary policy was contributing to a strong dollar and hurting the United States’ competitiveness.

 

The pound slipped on Friday after survey data showed British factories slashed jobs in February, but still enjoyed its biggest weekly rise in a month on receding fears that Britain will leave the European Union without a deal.

 

The dollar rose on Friday, hitting 10-week-highs against the yen, as risk appetite improved amid a more upbeat outlook on some major economies of the world and the prospect of a trade deal between China and the United States.

 

 

 

 

 

 

 

 

 

 

 

 

 

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