Forex Today: trade war in the eye of the storm

FXStreet Team FXStreet

Here is what you need to know Tuesday, October 8th:

Major pairs depended on US-China trade-related headlines, with the market’s mood, and the dollar swinging alongside. By the end of the day, is clear that China is willing to sign a deal which includes specific points both sides agree upon, but won’t discuss commitments on reforming Chinese industrial policy or government subsidies.
The EUR/USD pair flirted with the 1.1000 figure for a third consecutive day but finished the day flat around 1.0970. German dismal data prevents speculative interest from buying the shared currency.
The Pound came under pressure as Brexit hopes continued to fade. The EU rejected the latest UK PM’s Johnson proposal, unwilling to set a border on the Irish island. UK running out of time ahead of the EU Summit next October 17.
Safe havens lost ground to the dollar in the American afternoon, greenback gains modest as uncertainty persists.
Cryptocurrencies trimmed early losses, remained at the lower end of their latest range.

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FXStreet Team

FXStreet

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