WH Adviser Kudlow: US-China to the short strokes on a Phase 1 deal

Dhwani Mehta FXStreet

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.

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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