Trade Analysis & Reviews: 05.03.2019 - The dollar is going up in...

05.03.2019 04:13 AM

The dollar is going up in anticipation of the trade agreement of China and the United States

Earlier this week, the US dollar rises in price amid reports that after a protracted trade conflict, the United States and China approached the signing of a trade agreement.

On Sunday, March 3, the media wrote that the US authorities may cancel most of the duties on Chinese goods, because at the end of March, the US President, Donald Trump and and Chinese President, Xi Jinping could sign the final trade agreement between the countries.

Last week, against the background of progress in trade negotiations, Trump also appealed to the Chinese authorities in order to cancel all duties on agricultural products from the United States.

As of 5:00 pm Moscow time, the US dollar index, which shows the strength of the US currency relative to a basket of six major currencies, increased by 0.07% to 96.518, having reached the highest level since February 22 during today's trading.

At the same time, participants in the global currency market ignored a statement by US President Donald Trump, who noted that the recent tightening of the monetary policy of the Fed led to the strengthening of the dollar, which prevents us from doing business with other countries.

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