Citing sources with direct knowledge of the matter, Bloomberg reported that U.S. President Trump was planning to delay tariffs on European car imports for six months. With the initial market reaction, the EUR/USD pair spiked to a daily high of 1.1223 and was last seen trading at 1.1210, adding 0.06% on a daily basis.
This development seems to be helping the market sentiment improve as well, which allowed the USD/JPY pair to recover its daily losses and advance above 109.50.
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