XE Market Analysis: Europe – Jan 18, 2019

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The main theme has been Yen softness so far today, which has been concomitant with a revival in risk appetite in global markets. A WSJ report, citing unnamed sources, alleged that U.S. Treasury Secretary Mnuchin discusses lifting some or all of the tariffs imposed on Chinese imports. The Treasury denied the report, but it makes sense that they would deny it ahead of senior-level trade talks slated for January 30, and markets are running with it as a sign that President Trump’s administration is wanting to make a deal.