The market and the global foreign trade continue to be dominated by the U.S. Dollar. This was backed up by a survey carried out by the Bank of International Settlements. The USD had suffered due to the ongoing trade war between Washington and Beijing, but the dollar remains to make up 88% of the foreign exchanges, according to the BIS. This highlighted the effects that the Fed’s monetary policy had on foreign countries. Euro trades are 32% of the total, with the Japanese Yen following. This research is done every 3 years. 

Due to an unresolved issue on purchases and Hong Kong, between the U.S. and China, the EUR/USD is being traded at 1.1043, seeing a 0.11% increase. The greenback’s dominance aided the pair’s performance, as the German Zew survey demonstrated increasing expectations for more German economic outlook deterioration. The EUR/USD stayed in a similar trading region during Wednesday’s Asian session. Traders now look at the Euro-zone CPI print, hoping for a short-term impetus. 

The GBP/USD opened the market being traded at 1.2742, falling by 0.34%. The British Prime Minister, Boris Johnson is hoping to satisfy the EU with its proposed plans and he also has to persuade the DUP to back up his proposals. In addition, the UK CPI is set to be released later. 

On Tuesday, the Cable rallied, spiking close to five-month tops. Bloomberg reported that an agreement between the UK and the EU is imminent.