U.S. Dollar Index gains ground as U.S. and China will lower tariffs to negotiate a trade deal. U.S. tariffs for most Chinese goods will be reduced to 30%, while Chinese tariffs will drop to 10%.
Currently, U.S. Dollar Index is trying to settle above the resistance at 101.40 – 101.60. In case this attempt is successful, U.S. Dollar Index will head towards the next resistance level, which is located in the 103.30 – 103.50 range.
GBP/USD pulled back as traders focused on general strength of the American currency.
In case GBP/USD stays below the 1.3200 level, it will move towards the next support level at 1.3000 – 1.3020.
