FOREX-Euro pauses before ECB meeting as trade thaw triggers risk rally

FOREX-Euro pauses before ECB meeting as trade thaw triggers risk rally

* ECB decision due at 1145 GMT, press conference 1230 GMT * Trump’s delay to scheduled tariff hike boosts markets * China’s offshore yuan gains 0.5%, Aussie hits 6-wk high * Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh By Tommy Wilkes LONDON, Sept 12 (Reuters) – The euro hovered near $1.10 on Thursday as traders waited to see the scale of fresh stimulus expected from the European Central Bank, while China’s yuan and Australia’s dollar were buoyed by further signs of a thaw in the U.S.-China trade war. After a difficult August in which concerns about a global recession sparked a scramble into safer assets, investors have been returning to riskier markets this month, encouraged by China and the United States making moves to ease trade tensions and by receding fears of a no-deal Brexit. China on Wednesday exempted a basket of U.S. goods from its tariffs, while U.S. President Donald Trump said in a tweet he would delay a scheduled tariff hike by two weeks in October. Export-driven Asian currencies from Taiwan to Australia rallied on the buoyant mood as the world’s two largest economies each granted concessions in their heated tariff dispute. The Japanese yen, the go-to safe haven currency for nervous investors, fell to a six-week low against the dollar. The yen breached the 108 mark and was last at 107.98 yen per dollar, down 0.1% on the day and far from its seven-month high of 104.46 plumbed last month. The Aussie hit a six-week high […]

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