Additional headlines are now crossing the wires, via Reuters, citing the White House Economic Adviser Kudlow, as he reiterates that the US and China are to the short strokes on a Phase 1 deal.
Last hour, Kudlow said “We're getting close” to trade deal with China that boosted the risk-on trades across Asia.
Meanwhile, the Fox Business News correspondent Lawrence tweeted out: “Chinese trade sources tell us that there will be a primary level phone call between the US and Chinese trade delegations on Friday to try and finish getting a Phase One deal with China on paper. This call follows deputy level calls today which US trade sources confirmed.”
Markets are rejoicing the latest trade optimism that makes a trade deal more likely than before. USD/JPY extends recovery to near 108.60, the Aussie looks to regain the 0.68 handle while Treasury yields rebound nearly 1% and Asian stocks are mostly 0.50+% higher.
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