XE Market Analysis: Europe – Dec 03, 2018

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A risk-on theme drove the higher beta currencies higher, such as the Dollar bloc and emerging market currencies, while weighing on the Yen and Dollar. This came on news that the Trump and Xi came to a truce, with China has agreeing to “reduce and remove” tariffs below 40% on imports of U.S. vehicles, according to President Trump. This sparked strong gains on Asian stock markets, with China leading the way. The SSE index rose by over 2.5%. S&P 500 futures have risen by more than 1.8% in the overnight session.