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US-China trade deal is moving closer? – Danske Bank

Analysts at Danske Bank note that the global market sentiment was initially lifted by headlines that the US administration is considering rolling back some of the tariffs on Chinese imports but the rally was short-lived as the US Treasury denied the story soon after.

Key Quotes

“In addition, the story was probably not as interesting as the headlines suggested, as the story states that the proposal comes from Treasury Secretary Steven Mnuchin (a China dove), while the US Trade Representative Robert Lighthizer (China hawk) opposes the idea. Nonetheless, we still interpret the story as another sign that a US-China trade deal is moving closer and markets probably do as well.”

JPY to take cues from BoJ – Westpac

According to Robert Rennie, head of FM strategy at Westpac, the BoJ will be the main event for the JPY, though no change in policy is expected. Key Q
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USD/JPY set to extend gains to the 110.30 region - Commerzbank

Karen Jones, analyst at Commerzbank, USD/JPY has eroded the 20 day ma and the market looks set to extend gains to the 110.30 region before failure. K
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