* 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 trod water on
Friday as a week of mixed messages on the prospect of Sino-U.S.
tariff rollbacks left traders on edge and currency markets
paralysed, ahead of the release of closely-watched manufacturing
data.
"Headline fatigue has set in," said Ray Attrill, National
Australia Bank's head of FX strategy.
"With the constant barrage of seemingly contradictory stuff,
the market's given up trying to second-guess...seeing is
believing, and we'll trade it once we know what's happening."
While the headlines tugged sentiment in all directions, the
greenback was steady against the safe-haven Japanese yen JPY=
at 108.63 yen per dollar, more or less where it began the week.
It was marginally weaker against the euro EUR= at $1.1061,
flat on the Antipodean dollars and steady against a basket of
currencies .DXY at 97.958.
Keeping hopes for a breakthrough in trade talks alive were
comments from a Chinese commerce ministry spokesman, who said on
Thursday that China will try hard to resolve the dispute.
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, seen as a signal of progress. However, trade experts and people close to the White House
told Reuters that negotiations could slide into next year, and
there are concerns that U.S. legislation on Hong Kong could sour
relations between the parties. China's yuan CNY= , which is highly sensitive to trade
news, was stable at 7.0313 per dollar. The British pound
was steady at $1.2914, hemmed below $1.30 by the strong dollar
and the uncertain outcome of the Dec. 12 election.
"Treading water seems like the appropriate metaphor," ANZ
Bank analysts said in a note.
Absent any detailed news on the trade front, the next focus
on Friday is on flash purchasing managers index prints due later
in the day.
Readings from Germany, the Eurozone, Britain and the United
States later on Friday, will offer the latest insight into how
the globe's battered manufacturing sector is faring.
"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."