While addressing a group of 40 business executives and free trade economists at a private lunch in New York, the US Secretary of State Mike Pompeo told that he believes the trade war with China could come to an end by the 2020 presidential election, the CNBC relies on its sources for running the news report.
The news report further quotes Mr. Pompeo as saying “I haven’t been at the center of these actual negotiations. I’ve seen them make real progress.”
On a different note, Mr. Secretary was also reported to have said that the US will take every action consistent with its sanctions to prevent Iranian tanker from delivering Oil to Syria.
FX implications
Given the mixed clues concerning the US-China trade deal from the US lawmakers, investors will keep a tab on commodity-linked currencies while favoring safe-havens like the Japanese Yen (JPY) and Gold.
For Oil, trade war keeps weighing on commodities despite the latest draw in the Ameican Petroleum Institute’s (API) inventory draw.
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