Now I’m going to discuss about this tiny story about dollar market.
The dollar held above a three-week low on Thursday as investors remained cautious amid uncertainty over progress in US-China trade negotiations, while sterling strengthened on speculation that Brexit opportunities without a contract shrank.
Monthly gauge of factory activity in China and Japan came in weaker than expected on Thursday, offering new evidence that the seven-month US-Sino trade dispute is taking its toll on economic growth worldwide.
The dollar largely held gains recorded during the previous session after US Trade Representative Robert Lighthizer said at a congressional hearing that it was too early to predict results in US-China trade negotiations.
The greenback also found support for increasing tensions between Pakistan and India, sending investors out of risky markets and entering safer assets.
"Investors may put on safe trade, which is a long dollar. On the one hand, that is not very interesting but on the other hand, investors need to produce results," said Bart Wakabayashi, manager of the Tokyo branch at State Street (NYSE): STT) Bank .
"That might not do the way they need it," he said. "We may have seen some interest in emerging markets selectively (to get results)."
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