The United States and China have reportedly agreed to lift tariffs in phases, according to Bloomberg citing a Chinese Ministry of Commerce spokesman. The amount of tariff relief that would come in the first phase, set to be signed in the coming weeks, would depend on the content of that agreement, Bloomberg adds. This headline is driving riskier assets higher with USDJPY jumping 30 pips or so, NZDUSD erasing its earlier losses and DAX futures soaring.
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