US Dollar Steady as Markets Wait for Latest Updates on Trade Talks

The US dollar is trading steady, holding on to its gains from the previous session, as investors seek safe haven shelter in the greenback over lack of progress in US-China trade negotiations and a possible delay in the signing of the interim trade agreement. At the time of writing, the US dollar index DXY is trading at around 97.96.

Traders appear to make major moves until clarity emerges on the impact of the US-China trade war on the global economy overall. For now, it appears that some form of fatigue is setting in as investors hesitate to book their next trade until more updates on the trade talks emerge. This also explains why the US dollar is holding steady for now, in the absence of market-moving updates.

The Commerce Ministry confirmed on Thursday that China will attempt as much as possible to resolve differences with the US and work towards a partial agreement to put an end to the trade war. According to a report on the Wall Street Journal, high level officials from the US trade team have been invited to Beijing for the next round of in-person meetings, lending some support that both sides are working towards the trade deal in earnest.