© Reuters. The dollar index is moving towards the figures
Investing.com – The u.s. dollar rose slightly against other major currencies Thursday as concerns about a trade war world have temporarily eased, and as traders looked to the upcoming u.s. data.
The us president, Donald Trump had to give more details Thursday on its project to impose customs duties of 25% on imports of steel and of 10% on imports of aluminium into the framework of a re-commitment to his trade agenda nationalist.
The feeling has been shaken after the economic adviser to Trump, Gary Cohn, has announced on Tuesday his resignation. The decision was the result of a disagreement between Cohn and the president of the United States regarding import duties.
Traders are concerned that the proposed rates could trigger inflation and lead to retaliation from trading partners with the americans. The main holders of us Treasury bonds, including China and the european Union, could thus reduce their holdings of americans.
The White House said on Wednesday evening that Canada, Mexico and perhaps other countries could be exempted at least for a period of time the proposed rates.
The dollar index, which measures the greenback’s strength against a weighted basket based on the trade of six major currencies, rose 0.19% to 89,73 at 5: 15 am (9.15 am GMT), after touching 89,36 Wednesday.
The euro and the pound sterling was in decline, with the EUR / USD down 0.22% to 1,2384 and with the GBP / USD slipping 0.14% to 1,3880.
Later Thursday, the ECB was expected to publish its policy decision monthly. We do not expect that the central bank brings changes to the monetary policy, but investors are waiting for indications that it is approaching the end of its stimulus program of massive later in the year.
Elsewhere, the yen has been stable, with USD / JPY at 106.07, while USD / CHF edged up 0.13% to 0.9448.
The dollars of australia and new zealand were strengthened, with the AUD/USD down 0.37% to 0,7796 and the NZD/USD e, decrease of 0.37% to 0,7256.
During this time, the USD / CAD rose 0.12% to stand at 1.2928.