Asian session review: Asian currencies rose after signing a trade deal between the US and China

Asian currencies rose on Thursday amid hopes that a US-China trade agreement could portend warmer relations between the world's two largest economies and help revive global growth.

Beijing and Washington touted the Phase 1 agreement, signed overnight at the White house, as a step forward in resolving their bitter trade dispute. U.S. Vice President Mike Pence said that further Phase 2 discussions had already begun.

The greenback was also marginally lower against the euro and pound, with analysts figuring a bounceback in the world economy could be negative for the dollar.

Experts believe that the partial trade agreement signed on Wednesday between the US and China brings some relief to the market, but uncertainty still persists

"There's a great sense of welcome that the deal was signed and a little bit of relief, naturally, and some measured optimism about how we can move forward," said Gregory Gilligan, chairman of the American Chamber of Commerce in China.

As part of the deal, China also agreed to purchase an additional $200 billion in U.S. goods over the next two years.

Although tariffs are still being levied on $370 billion worth of imported Chinese goods, how the "phase one" deal works will help toward the making of a "phase two" deal, Gilligan told

As for the additional $200 billion of U.S. goods that China has promised to purchase, Gilligan said "hitting those targets will be difficult, but that's good problem to have.

Meanwhile, China's Vice Premier Liu He said on Thursday that China's 2019 GDP is estimated to grow more than 6%, according to Chinese state news agency Xinhua News. Liu added that data for this month points to a better-than-expected economic outlook, Xinhua reported.