Finally, the verdict is out from the much-awaited Trump-Xi trade talks, with the US President Trump announcing that he had an excellent meeting with Chinese President Xi Jinping.
Trump noted: Negotiations with China are continuing adding he thinks “we are back on track” with China.
“We’re holding back on tariffs and they’re going to buy farm products,” the US President added.
On the revived hopes of a US-China trade deal, the anti-risk Yen may witness a bearish opening gap on Monday that could drive USD/JPY back towards the 109.04 levels (50-day SMA). The higher-yielding Antipodeans (China proxies) could extend their bullish momentum. Meanwhile, gold prices could drop back towards the key 1380 support zone.
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