Sources: US to extend license for its companies to continue business with Huawei - Reuters

Dhwani Mehta FXStreet

Reuters quoted two sources familiar with the deliberations on Saturday, the US administration is set to issue a two-week extension of a license allowing US companies to continue doing business with China’s Huawei Technologies Co Ltd.

A source said: “The extension of around two weeks is far shorter than the prior 90-day extension and a longer extension is in the works but has not yet been finalized due to regulatory hurdles.”

The sources added that the extension will be announced on Monday, when the earlier reprieve is set to expire.

The Asian trading this Monday sees cautious optimism amid hopes of a US-China trade deal and rife Hong Kong civil tensions. USD/JPY caught a fresh bid-wave and jumped to fresh highs at 108.86 but a break above the 109 level still remains elusive. The Asian stocks turned positive, except for Australian and New Zealand equity markets, as Hong Kong’s Hang Seng rebounded.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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