(Yahoo Finance) The dollar was flat on Wednesday as foreign exchange traders held off from making big moves as they awaited definitive news out of the trade talks between the United States and China which resume on Thursday.
Save for a bout of nerves on Monday following President Donald Trump’s threat that he would raise tariffs on Chinese imports by Friday if a deal was not reached, currency market reactions have been muted as the deadline approaches.
“We’re sitting on our hands waiting to hear news from the Chinese talks on trade,” said John Doyle, vice president of dealing and trading at Tempus, Inc.
“It’s a lot of wait-and-see and short little knee-jerk reactions to different headlines,” he said. “It has been hard for the dollar to find any conviction.”