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Equities like EU-US Trade Truce more than the Euro
The markets generated a collective sigh when Juncker and Trump announced that there would be no new tariffs while new trade negotiations took place. This was particularly important because Trump reportedly wanted to press ahead with a 25% tariff on car imports. It was also announced that the EU would buy more soy and liquid natural gas from the US. Stocks in the US extended their earlier gains, and the euro rallied from near session lows (~$1.1665) to session new session highs (~$1.1740). A marginal new high was recorded in Asia, but the currency market seems either more skeptical or more focused on more immediate ... (full story)