The
U.S. dollar was little changed on Tuesday amid uncertainty about the China-U.S.
trade agreement, as traders are waiting for clarity on the developments of
(phase1) of the trade deal.
According
to CNBC report, Beijing is currently pessimistic about the trade agreement with
the United States as officials in China saw U.S President Donald Trump's
comments on tariff hikes as troubling.
As
of 11:15 GMT, the U.S dollar index, which measures the performance of six major
currencies against the greenback, traded near the session’s opening at 97.71,
following its plunge over the three previous sessions.
The
dollar has come under selling pressure since hitting a high of 98.28, the
highest level since mid-October, where it fell to 97.53 the previous session.
The
Trump administration issued a new 90-day extension allowing US companies to
continue dealing with China’s Huawei Technologies until setting a framework for
telecommunications firms that pose a jeopardy to national security.
Despite
lack of any updates, traders are still hoping the United States and China would
sign the so-called "phase one" this month to curtail their 16-month
trade war.
Later
in the day, the U.S. will release housing data for October, while Bank of New
York President John Williams will speak at The Capital Markets
Conference in Washington DC.
The
Euro STOXX 600 gained 0.6 percent to 408.46, hovering near its highest level
since May 2015.
Safe-haven gold, on
the other hand, retreated from a top of $1475.30 an ounce to $1466, with key
support present at $1463.50.
