Forex - U.S. Dollar Rises on Upbeat Trade News

Forex | 2 years ago


Forex - U.S. Dollar Rises on Upbeat Trade News - tradeglobalmarket

The U.S. dollar was higher on Monday after upbeat trade comments helped lift sentiment.

U.S. Commerce Secretary Wilbur Ross told Bloomberg on Sunday that U.S.-based companies would be issued with licenses to sell to Chinese tech giant Huawei “very shortly,” adding that the government had received some 260 requests from U.S. suppliers for exemptions from the existing restrictions on selling to the company. Huawei had been blacklisted on national security grounds amid concerns from the White House over its connection to the Chinese government, a move that many linked to the broader trade war with China.

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Meanwhile on Friday, Washington and Beijing indicated that progress had been made on agreeing to a trade deal, with U.S. officials indicating that a deal could be signed this month.

 

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