US Commerce Secretary Lutnick: Semiconductor tariffs are not part of the US-South Korea deal

US Commerce Secretary Howard Lutnick was out with some trade-related comments in the last hour, saying that semiconductor tariffs are not part of the U.S.-South Korea deal. Lutnick also announces South Korea $200M investment in Alaska’s natural gas project.

Market Reaction:

The global risk sentiment remains supported by the latest optimism fueled by hopes for a US-China trade deal. Meanwhile, the US Dollar Index (DXY) remains on the defensive below the 99.00 mark, eroding a part of the previous day's hawkish FOMC-inspired gains to an over two-week high.