Though trade worries are far from gone from the financial markets, today there has been a temporary respite from them, allowing investors to turn away from safety assets for a moment. This caused a drop in both the USD and the JPY today.
As a result, the US dollar index fell close to its lowest in almost two months and reached 93.97 (recently it was only lower two days ago, when it reached 93.88).
Despite the fact that the United States and China continue exchanging new tariffs on each other’s imports, trade war pressure is lower. This could be due to the fact that investors have adjusted to this rhetoric by now and new tariff announcements simply lack the element of surprise. Even the Australian dollar, which is very sensitive to such events, managed to strengthen.
Moreover, today there is a meeting between European leaders held in Austria. Analysts are on the lookout for news regarding Brexit from this summit.
