The dollar edged lower on Friday and was headed for a third straight week of los...
LONDON - The dollar edged lower on Friday and was headed for a third straight week of losses as expectations of a breakthrough in trade tensions between Washington and Beijing fuelled a revival in risk appetite.
The losses came after the Federal Reserve cut interest rats by a quarter-point rate, compounded by a spike in overnight U.S. repo rates this week, which cut into demand for dollars. “Other central banks are not in easing mode as the Fed has been this week and hopes of a breakthrough in trade talks between the United States and China is also dampening some of the safe-haven appeal of the dollar,” said Thu Lan Nguyen, a foreign exchange analyst at Commerzbank.
Markets focussed on U.S.-China trade talks in Washington before high-level discussions next month. Some signs of progress were emerging.
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