Dollar trims losses after trade deal announcement

The US dollar fell against a basket of currencies today, but trimmed its losses after the US and China announced that they officially agreed on the terms of the phase one of the final trade deal.

The US President announced reaching the phase-one deal terms with China, and noted that it will include technological intellectual property rights and Beijing's pledge to buy a certain size amount of US farm goods.

Trump revealed that he had decided to cancel the tariffs hike decision against China, which was due next Sunday.

US data revealed today that retail sales in rose by 0.2% in November, lower than forecasts of 0.5%.

The dollar index fell against a basket of currencies by 0.2% to 97.2 points as of 18:39 GMT, and hit an intraday high of 97.2 and a low of 96.7.