* Greenback clings to overnight gains, trade news awaited
* Europe, U.S. PMIs eyed for latest read on global economy
* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh
By Tom Westbrook
SINGAPORE, Nov 22 (Reuters) - The dollar held overnight
gains on Friday, as investors clung to the safe-haven pending
developments in Sino-U.S. trade negotiations and amid a growing
skepticism about reports of progress in the talks.
Movements were slight as investors also looked to a slew of
global manufacturing surveys published later in the day for
clues on how deeply the U.S.-China trade dispute is hurting the
world's economy.
The greenback crept higher against the Japanese yen JPY=
to 108.58 yen and was steady against the euro EUR= at $1.1064.
Antipodean currencies were flat on the dollar, with the Aussie
AUD=D3 buying $0.6789 and the kiwi NZD=D3 $0.6404.
Against a basket of currencies .DXY the dollar last
treaded at 97.993.
"Trade is the elephant in the room," said Ray Attrill,
National Australia Bank's head of FX strategy, though he added
that "headline fatigue has set in," limiting volatility in the
market's reaction to new information.
Investors had earlier factored in the prospect that a
partial truce could be agreed at a mid-November summit in
Santiago. But that summit was cancelled and the path forward is
now unclear.
China will try hard to resolve the dispute, Commerce
ministry spokesman Gao Feng told reporters on Thursday.
The Wall Street Journal also reported that top U.S.
negotiators had been invited to Beijing for a new round of
face-to-face talks, further raising hopes and risk appetite.
However trade experts and people close to the White House
told Reuters that negotiations could slide into next year.
"With the constant barrage of seemingly contradictory stuff,
the market's given up trying to second-guess the next headline,"
said Attrill. "We'll trade it once we know what's happening."
China's yuan, which is highly sensitive to trade news, was
stable at 7.0303 per dollar in offshore trade CNH= .
Elsewhere, the rising dollar kept the British pound GBP=
below $1.30, while a manifesto from the British Labour Party
setting out radical plans to raise tax and nationalise
infrastructure also weighed. Sterling last traded at $1.2916.
Purchasing managers indexes are due for Germany, the
Eurozone, Britain and the United States later on Friday,
offering a reading on the globe's battered manufacturing sector.
"The current narrative has global growth slowing to year
end," said Michael McCarthy, chief markets analyst at brokerage
CMC Markets in Sydney. "So the real potential is if we see
surprises on the upside...it could have direct impact on
Euro-U.S. dollar."