The dollar rose when the United States and Mexico agreed to replace trade agreements
Today, the dollar rose again after reaching the lowest level since 2/8 in the first session drunk when the Trump administration achieved bilateral trade agreements with Mexico, accelerating optimistion in reducing global trade tensions.
The U.S. dollar index, which tracks the dollar versus another currency basket, rose 0.2% to 94.82 before 1:35 AM ET (05:35 GMT) after U.S. President Donald Trump announced details of the agreement he said would replace the North American Free Trade Agreement ( NAFTA). The new agreement is expected to last for 16 years and will be reviewed six years once upon approval by Congress, according to U.S. Trade Representative Robert Lighthizer.
The dollar fell more than 2% since early this month when U.S. President Donald Trump said he was "unhappy" with the decision of the Federal Reserve for raising interest rates at the time the US government was trying to stimulate the economy.
Meanwhile, the Mexican peso closed higher than 0.8% on Monday after the initial increase of about 1.2% after the trade agreement announced.
USD/CNY rate rose 0.1% to 6.8233, while the NDT foreign exchange traded at a lower than 0.1% at 6.8017 USD/USD, not far from the 6.7818, the highest since 31 Jul, reached on Monday after the Chinese People's bank re-proposed a "factor resistance cycle" in self-tuning daily on weekends to support local currency currencies. PBOC raised an average of the official currency to 6.8052 a dollar on Tuesday, 0.7% sure over the previous modification rate of 6.8508 and largely in accordance with market forecasts.
Elsewhere, the AUD/USD rate was reduced by 0.4% to 0.7323, while the NZD/USD rate was also reduced by 0.2% to 0.6680.
The USD/JPY transaction rate is higher than 0.2% to 111.23.
The U.S. dollar index, which tracks the dollar versus another currency basket, rose 0.2% to 94.82 before 1:35 AM ET (05:35 GMT) after U.S. President Donald Trump announced details of the agreement he said would replace the North American Free Trade Agreement ( NAFTA). The new agreement is expected to last for 16 years and will be reviewed six years once upon approval by Congress, according to U.S. Trade Representative Robert Lighthizer.
The dollar fell more than 2% since early this month when U.S. President Donald Trump said he was "unhappy" with the decision of the Federal Reserve for raising interest rates at the time the US government was trying to stimulate the economy.
Meanwhile, the Mexican peso closed higher than 0.8% on Monday after the initial increase of about 1.2% after the trade agreement announced.
USD/CNY rate rose 0.1% to 6.8233, while the NDT foreign exchange traded at a lower than 0.1% at 6.8017 USD/USD, not far from the 6.7818, the highest since 31 Jul, reached on Monday after the Chinese People's bank re-proposed a "factor resistance cycle" in self-tuning daily on weekends to support local currency currencies. PBOC raised an average of the official currency to 6.8052 a dollar on Tuesday, 0.7% sure over the previous modification rate of 6.8508 and largely in accordance with market forecasts.
Elsewhere, the AUD/USD rate was reduced by 0.4% to 0.7323, while the NZD/USD rate was also reduced by 0.2% to 0.6680.
The USD/JPY transaction rate is higher than 0.2% to 111.23.
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