Dollar Higher As U.S. Lawmakers Reach Deal To Avoid Shutdown
11 Febrero 2019 - 11:57PM
RTTF2
The U.S. dollar drifted higher against its major counterparts
during the early European session on Tuesday, after U.S. lawmakers
reached a tentative deal on border wall funding in a bid to avoid
another government shutdown at the end of this week.
The deal includes $1.375 billion for 55 miles of fencing for a
border wall with Mexico.
The agreement must be signed into law by the US president before
Friday midnight to prevent another damaging government
shutdown.
If approved, the deal would fund all government operations
through the end of September.
Hopes that a new round of U.S.-China trade talks would help
resolve trade dispute also buoyed sentiment.
Negotiators from the two countries are meeting this week in
Beijing, with White House adviser Kellyanne Conway saying President
Donald Trump wants to meet Chinese President Xi Jinping very
soon.
Two days of high-level talks starting Thursday would involve
U.S. Trade Representative Robert Lighthizer, Treasury Secretary
Steven Mnuchin and Chinese Vice Premier Liu He.
The currency held steady against its major counterparts in the
Asian session, with the exception of the yen.
Reversing from its early lows of 1.1290 against the euro and
1.2885 against the pound, the greenback hit a 3-month high of
1.1258 and a new 3-week high of 1.2833, respectively. The next
possible resistance for the greenback is seen around 1.11 against
the euro and 1.26 against the pound.
The greenback reversed from an early low of 1.0036 against the
franc, rising to 1.0079. Next key resistance for the greenback is
seen around the 1.02 region.
The greenback hovered at a 1-1/2-month high of 110.65 against
the yen and held steady thereafter. On the upside, the greenback is
likely to find resistance around the 112.00 level.
Data from the Bank of Japan showed that Japan M2 money stock
rose 2.4 percent on year in January, coming in at 1,015.1 trillion
yen.
That was in line with expectations and unchanged from the
previous month.
In today's events, at 8:00 am ET, Bank of England governor Mark
Carney is set to speak about the economic outlook and global trade
tensions in London.
Federal Reserve Chair Jerome Powell will give a speech titled
"Economic Development in High Poverty Rural Communities" at the
Hope Enterprise Corporation Rural Policy Forum in Mississippi at
12:45 pm ET.
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