Investing.com - The U.S. dollar fell on Wednesday after Treasury Secretary Steve Mnuchin said there were “a lot of issues” regarding trade discussions with China.
Mnuchin said on CNBC that he and U.S. Trade Representative Robert Lighthizer will be in Shanghai next week for a two-day meeting that starts on Tuesday.
“I would say there are a lot of issues,” Mnuchin said. “My expectations is this will be followed up with a meeting back in D.C. after this and hopefully we’ll continue to progress.”
The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, slipped 0.1% to 97.340 by 11:03 AM ET (15:03 GM).
The dollar fell against the Japanese yen, with USD/JPY down 0.2% to 108.03.
The euro recovered from an earlier low of 1.1131, fueled slightly by a weaker greenback, but still remained near two-month lows on expectations that the European Central Bank could pave the way for more monetary easing at its meeting on Thursday.
EUR/USD slipped 0.1% to 1.1143.
Sterling recovered after three days of losses as Boris Johnson becomes Prime Minister of the U.K.
Johnson, known for his hardline stance on Brexit, is expected to push for the U.K. to leave the European Union by October 31 with our without a deal with the EU.
Speaking at Downing Street, Johnson said he wanted a new partnership with the EU and promised to deliver on Brexit.
GBP/USD rose 0.5% to 1.2495.