US Dollar Strengthens Over Easing of Trade Restrictions on Huawei - Forex News by FX Leaders

US Dollar Strengthens Over Easing of Trade Restrictions on Huawei

Posted Wednesday, May 22, 2019 by
Arslan Butt • 1 min read

The US dollar index edged higher to trade above 98 as the market sentiment improved slightly when the US eased trade restrictions temporarily on Huawei. At the time of writing, DXY is trading at around 98.05 after having climbed up to 98.134 on Tuesday, the highest in over three weeks.

The DXY has strengthened by 1.9% so far this year. However, markets continue to trade amid an air of uncertainty around trade tensions between US and China. Analysts are expecting the sentiment to continue this way for a while as a resolution or a deal between the two countries seems nowhere in sight just yet.

US Treasury yields also climbed slightly higher, with the yield on the 10-year Treasury note reaching 2.423% .

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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