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The dollar, stable; the yuan rises as China prepares to withdraw some tariffs

The dollar, stable; the yuan rises as China prepares to withdraw some tariffs


The dollar has opened without much change this short week in Asia, given the signs that China and the United States continue to make progress in trade talks.

The dollar index stood at 97.69 at 2:30 hours (CET), unchanged overnight but separated from the highs recorded last week at 97,758.

In turn, the People’s Bank of China has set the reference rate of the yuan at 7.0117, above the rate indicated on Friday of 7.0020.

On Friday, US President Donald Trump said he had a “very good conversation” with Chinese President Xi Jinping about phase one of the trade agreement reached this month and added that China has begun making large purchases of agricultural products Americans

The Chinese Ministry of Finance said Monday that the country would reduce or eliminate import tariffs on 850 products as of January 1, including pork, frozen avocado and some technology products.

The USD/JPY pair gains 0.01% to 109.43. Last week, the Bank of Japan said it expected rates to remain low or lower.

The Australian dollar rises 0.09% against the dollar to the level of 0.6905.

The NZD/USD pair advances 0.11% to the level of 0.6607; The New Zealand dollar continues to gain momentum after third-quarter economic growth was stronger than expected last week.

The GBP/USD pair then rises 0.05% to 1,3009.

The USD/SGD pair points up 0.07% to the level of 1.3358 pending the publication of Singapore’s inflation data during this day.

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