The US administration is reportedly considering expanding its action against China, potentially sanctioning Hong Kong leader Carrie Lam. Bloomberg is reporting.
Such a move would come after President Donald Trump signed an Executive Order to restrict transactions with TikTok and WeChat – two Chinese tech titans. Negotiators from the world's largest economies meet next week to take stock of the trade deal, and tensions are rising.
The safe-haven US dollar is rising, with EUR/USD falling below 1.18 and GBP/USD slipping below 1.3050.
Here is how the move looks on the 15-minute euro/dollar chart:
The greenback is paring previous losses related to the Non-Farm Payrolls. The US gained 1.763 million jobs in July, better than expected– potentially limiting politicians' willingness to agree on a fiscal deal and still pointing to a slowdown in hiring.
See NFP Quick Analysis: Slow hiring downbeat for the dollar, good for gold, no silver lining
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