Doubts around the progression of the trade war dispute have affected the EUR/USD pair, which trades in the 1.10 range during Friday’s session. Previous reports stating that the dispute will soon be concluded helped the pair and the markets. The EUR/USD pair failed to recover the 1.1100 handle as it faced selling pressure. 

On Thursday, the pair declined, hitting new multi-week lows due to broad-based U.S. dollar strength. Optimism rising around a trade war agreement helped the U.S. currency strengthen and also created an intraday upsurge in the U.S. Treasury bond yields. Both China and the U.S. stated that an agreement has been reached to initiate a “phase one” deal, which will have the sides reverse the tariffs imposed. 

Stephanie Grisham, a White House spokeswoman said that Trump’s administration is “very, very optimistic” about an imminent conclusion. On Friday, the EUR/USD pair oscillated around the mid-1.1000s. Traders now shift their focus on German trade balance data.

Following the given BOE perception of the UK’s and the global economies, the GBP/USD pair dropped to around the 1.28 handle. The aforementioned happenings around the USD led the Cable to be sold below the 1.2800-1.2790 region. 

Moreover, yields in the Philippines have stayed high, resulting in the Philippine peso to increase in value. The currency gained 3.8% against the USD in 2019, more than the 5% increase it had halfway of 2018.