The US dollar declined against most majors, with the exception of the yen. The pressure on the USD is exerted by the development of a trade confrontation between the US and the PRC. On Monday, President Donald Trump announced the imposition of a 10% duty on Chinese goods worth USD 200 billion. This decision will come into effect on September 24. Against this background, China can abandon a new round of trade negotiations with the US, scheduled for September 27-28.
Quotations of the pair EUR/USD rose to the level of 1.1703 due to the general weakening of USD. Today, investors are waiting for the ECB Head Mario Draghi's speech, which is scheduled for 09:15 (GMT+2).
The rate of the pair GBP/USD rose to 1.3160 with the support of the weakening USD. Due to the absence of macroeconomic releases in the US calendar, investors will follow the news regarding the development of the situation on Brexit and the trade confrontation between the US and the PRC. This week, the main macroeconomic release for GBP will be tomorrow's publication of data on the consumer price index in the UK for August. It is predicted that CPI may fall from 2.5 to 2.4%, and Core CPI may decline from 1.9% to 1.8%.
JPY has become the only currency against which USD managed to consolidate. The instrument tested a high level of 112.00, after which it corrected downwards.
Quotes of the pair AUD/USD rose to 0.7217 due to the general weakening of the US dollar. The news about the introduction of new American duties in relation to Chinese goods could not put pressure on the Australian currency, which usually reacts negatively to the problems in the PRC economy. Investors expect a response from Beijing.
The gold rate corrected to the level of 1200.00 after the fall to 1196.92 during the Asian session. Due to the lack of releases in the US macroeconomic calendar, investors are following the development of the US-China trade confrontation.
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