Euro sees sigh of relief as dollar weakens on US-China trade deal hopes

Euro sees sigh of relief as dollar weakens on US-China trade deal hopes

18 Nov 2019 03:27 PM
 

The euro enjoyed a small respite on Monday, jumping to an 11-day high versus the U.S. dollar, on expectations that Washington and Beijing can soon sign off on a deal to end a trade war that has been a drag on global economic growth. Faint optimism for a breakthrough was supported by a report on Sunday from Chinese state news wire Xinhua, which said the two sides had "constructive talks" over the weekend.

The export-oriented European economy has suffered from the 16 month long trade dispute between the world's two largest economies. The tariff war has taken a toll on the world's manufacturing. The euro was last up 0.1% at $1.1068 its highest since Nov. 7, and the index which tracks the greenback against six major currencies was down 0.1% at 97.90.

 

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