U.S. Dollar Flat As Trade Talks Prolonged

The U.S. dollar remained tepid on Tuesday with traders reluctant to make moves as U.S.-China trade talks dragged on.

The Chinese Ministry of Commerce said in a statement that the two countries had “reached consensus on properly resolving relevant issues” during a phone call Tuesday morning Beijing time, but did not provide any further details. The call was later confirmed by U.S. officials. But they also said that obstacles still remain.

Data from the Commerce Department showed that the goods trade deficit fell sharply in October due to reduced trade flows from the White House’s toughened stance on trade with China.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was steady at 98.230 as of 10:40 AM ET (15:40 GMT). The dollar was higher against the safe-haven Japanese yen, with USD/JPY gaining 0.1% to 109.00.

Meanwhile, the pound slipped over the worry that the Conservative Party’s lead in the December election is narrowing. A poll released on Tuesday showed that the Conservatives are at 43%, while Labour is at 32%. The Dec. 12 election is expected to be close, as Brexit looms as the main issue facing voters.

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