US, China trade “handshake for a framework” not generating enthusiasm in Asia trade | Forexlive

The US dollar is attracting a few bids with a lower EUR, AUD, NZD, GBP.

CAD, yen and CHF are little changed.

Earlier we had the news out of London:

The US and China agreed in Geneva last month to lower tariffs. The agreement Lutnick is announcing is, in his own words,

• “a handshake for a framework” to “start to implement that framework” as long as both Trump, and Chinese President Xi approve

This is not much of an announcement, to implement an already agreed upon agreement, subject to approval.

As for risk FX, its attracting more offers than bids.

Mix in the news that tariffs are still in place:

And we have a market casting a sceptical eye on risk FX.

Not that swings are large, activity is a little quiet ahead of US data due later today:

Please excuse the big red splotch in the chart … Windows keeps telling me Telegram has been ‘restored up’.

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