FOREX-Major currencies await Sino-U.S. deal details, sterling ticks up

* Chinese yuan, A$ off 4-month peak touched last week
* Sterling strong after decisive UK election
* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh

By Hideyuki Sano and Tom Westbrook
TOKYO/SYDNEY, Dec 16 (Reuters) - Currencies made a muted
response to the U.S.-China trade deal on Monday, as last week's
brief relief that an agreement had been reached was replaced by
frustration at a lack of details, and a reluctance to make big
bets as Christmas draws near.
Washington and Beijing cooled their trade war last week,
reducing some U.S. tariffs in exchange for what U.S. officials
said would be a big jump in Chinese purchases of American farm
products and other goods. That had lifted the Australian dollar and pushed down the
safe-harbour yen last week, before profit-taking set in.
"We've been a little but underwhelmed by the details of what
we know now," said Rodrigo Catril, senior FX strategist at
National Australia Bank in Sydney.
"The good news is that now we have more surety in terms of
the prospect of an increase in tensions. The market needed that
assurance. But in terms of the rollbacks they're quite minimal."
The trade-sensitive Australian dollar fetched $0.6878
AUD=D3 , easing from Friday's four-month high of $0.6930.
The Chinese yuan CNY= traded at 6.9959 per U.S. dollar,
still stronger than the symbolic 7 mark but below the four-month
high of 6.9589 that it hit last week.
Both currencies found some support from slightly
stronger-than-expected Chinese production and consumption data.
The euro rose marginally to $1.1129 EUR= , as did the
Japanese yen to 109.40 per dollar JPY= . Against a basket of
currencies, the dollar weakened 0.1% to 97.084.
Fine details of the trade deal, which has not been signed
yet, are awaited.
U.S. Trade Representative Robert Lighthizer said on Sunday
the deal will nearly double U.S. exports to China over the next
two years and is "totally done" despite the need for translation
and revisions to its text.
A date for senior U.S. and Chinese officials to formally
sign the agreement is still being determined, he added.
"We have seen over time more reports about the differences
between what the U.S. said and what China said about the
agreement," said Takafumi Yamawaki, head of fixed income
research at JPMorgan Securities in Tokyo. "The U.S. talks about
the size of U.S. farm products China will buy but China stayed
mum."
Elsewhere, sterling climbed back towards Friday's peak,
adding half a percent to $1.3386, basking in the glow of a
Conservative election victory that British Prime Minister Boris
Johnson called a "huge great stonking mandate."
"The focus now turns to Brexit and the 31 January deadline,
with the election results giving Prime Minister Johnson a clear
mandate to pave the way out of Europe," ANZ analysts said in a
note.
The dollar's weakness also helped the Hong Kong dollar
HKD= to a fresh five-month high of 7.7893 per dollar.