Forex

Sterling continues to rise on weaker dollar

2019-08-23 20:30:15 GMT (Economies.com)

British pound rose against US dollar today, as pressures from dollar eased amid the renewed US-China trade war fears.

 

Trump renewed his attack on the Federal Reserve and China via his Twitter account, as he tweeted "who's our bigger enemy, Jerome Powell or President Xi Jinping?"

 

Trump ordered US companies to prepare for an alternative to China amid the escalation of the trade war.

 

The Chinese government announced its plan to impose a 10% tariff increase on US imports worth $75 billion, amid expectations of targeting imports of agricultural goods.

 

Otherwise, markets are anticipating the outcome of the shuttle tours of BPM Boris Johnson for a number of European countries in an attempt to renegotiate a Brexit deal.

 

By 18:42 GMT, GBP/USD rose by 0.3% to $1.2288, with a high of $1.2288 and a low of $1.2195.

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