Source on trade deal: “Is this an agreement in principle or is it an agreement?” - Reuters


Reuters quotes one Washington-based source familiar with the trade talks, saying that

Although there appeared to be an agreement in principle, it was unclear whether it was a written, actionable deal, or whether Beijing had agreed to it, said one Washington-based source familiar with the talks.

The source said: "Until the full text is released, it's not particularly actionable. It's very unclear to me: Is this an agreement in principle or is it an agreement?"

With renewed trade optimism boosting the risk appetite so far this Friday’s Asian trading, the above comments could pour come sold water, with the Aussie already off the 4.5-month highs, as it currently trades around 0.6920.

The USD/JPY pair trades closer to eight-day highs of 109.57, although the further upside looks difficult amid broad US dollar sell-off. The US dollar index is trading heavy, thanks to 2.5% surge in GBP/USD on a likely Conservatives landslide victory in the UK election.

With renewed trade optimism boosting the risk appetite so far this Friday’s Asian trading, the above comments could pour come sold water, with the Aussie already off the 4.5-month highs, as it currently trades around 0.6920.

The USD/JPY pair trades closer to eight-day highs of 109.57, although the further upside looks difficult amid broad US dollar sell-off. The US dollar index is trading heavy, thanks to 2.5% surge in GBP/USD on a likely Conservatives landslide victory in the UK election.

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