USD/JPY rises to a one-week high
USD/JPY is at the highs of the day after a report saying the US and China had basically reached a broad consensus on a trade deal.
The pair is up 29 pips on the day and around 10 pips since the report. The lukewarm reaction suggests that there is still plenty of skepticism a deal will get done as the US side shows considerably less enthusiasm.
Technically, there is a minor break of the downturn since early November but it's tough to get excited about this pair until it breaks 110.00 and we're going to need some clearer trade deal news to get there.