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The dollar edged towards a one-week high on Thursday as the trade tensions between China and the United States prompted investors to seek shelter in the greenback.
While U.S. money markets are pricing in roughly two rate cuts by January 2020 and the bond yield curve inverted further overnight, signalling rising recessionary risks for the world's biggest economy, demand for dollars show no signs of abating.
#Dollar #China #Stock
The dollar edged towards a one-week high on Thursday as the trade tensions between China and the United States prompted investors to seek shelter in the greenback.
While U.S. money markets are pricing in roughly two rate cuts by January 2020 and the bond yield curve inverted further overnight, signalling rising recessionary risks for the world's biggest economy, demand for dollars show no signs of abating.
#Dollar #China #Stock
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NewsTranscript
00:00One of the biggest beneficiary from trade war has been the dollar.
00:05The dollar continued its rise for another day and was on track for the fourth consecutive
00:11gains in the month since the start of the year.
00:15The dollar index was up about 0.5% at 98 against the basket of currencies.
00:22Remember that dollar has been considered as one of the safest refuge from the rising trade
00:27tensions between the US and China.
00:29China has said that the next move on trade talks should come from the US as they seem
00:34to change their goalposts every now and then.
00:37This is according to the Chinese spokesperson of the Commerce Ministry.
00:41Remember that China and the US is already embroiled into a trade war and back and forth
00:48with negotiations trying to end the trade war.
00:52But all the steps and results so far have been fruitless.
00:56That's it from us and thanks for watching.
00:57For more you can log on to gulfnews.com slash business.