Breaking: Trump has yet to agree to a tariff rollback, trade deal uncertain,USD/JPY plunges

US President Donald Trump has yet to decide on rolling back the accumulated tariffs. He says that China wants him to do that. The president repeats his stance that the world's second-largest economy would like to make a deal. 

Safe-haven assets are on the rise, with USD/JPY falling off the highs. AUD/USD has extended its falls, amid the risk-off mood. 

Here is the move on the dollar/yen chart:

USD JPY Trump tariffs November 8 2019

Headlines related to US-Sino trade relations have been rocking markets in the past few days. Presidents Trump and Xi Jinping were set to meet on the sidelines of the APEC Summit in Santiago. However, the Chilean government called off the event, and a new venue has yet to be agreed. The White House has reportedly offered Iowa.

Gao Fend, China's Commerce Minister, stated that levies would be rolled back with every phase of the trade deal. However, Trump's announcement shows that both sides are far from cutting a deal.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD advances 1.10 amid upbeat trade headlines, after mixed US retail sales

EUR/USD is trading closer to 1.1050, up on the day. US Commerce Secretary Ross has expressed optimism about reaching a deal with China. The Retail Sales Control Group met expectations with 0.3%.


GBP/USD soars past 1.2900 as Farage gives additional boost to Conservatives

GBP/USD has leaped above 1.29, the highest since early November, as the Brexit Party has failed to field candidates in 43 additional seats, facilitating a victory for PM Boris Johnson.


USD/JPY clings to gains near session tops, around 108.70 post-US data

The USD/JPY pair maintained its strong bid tone near session tops and had a rather muted reaction to the mixed US economic data.


Gold looks to close week with small gains below $1,470

The precious metal struggled to find demand on Friday as the upbeat market mood on renewed hopes of the United States and China reaching a trade deal to avoid a tariff hike in December caused investors to move away from safe havens.

Gold News

Crypto Today: Playing with the thin red line

BTC/USD has fallen below $8,500 during the Asian trading session. A close below this support level would put $7,500 on the trading table. ETH/USD is moving below the 50-period exponential moving average.

Read more