© Reuters. The dollar declined on Friday
Investing.com – The u.s. dollar fell on Friday after the us president, Donald Trump has criticized the Federal Reserve to increase interest rates, but was still on track to record a second week of gains.
The dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.15% to 94,84 at 05h36 AND (9h36 GMT).
Despite the decline, the dollar has reached its goal for a second consecutive week of gains and rose more than 5% in the last three months due to forecasts of a rise in interest rates.
Trump said in an interview on CNBC that he does not approve of the way the Fed manages monetary policy. The Fed has raised its rates twice this year and is expected to increase its rates at least once more before the end of the year.
“I’m not happy,” said Trump. “Because we are making progress and each time you advance, they still want to raise rates. I’m not really – I’m not happy about it. But at the same time, I let them do what they think to be the best. “
During this time, trade tensions have continued, the european Union to retaliate against the United States with over tariffs after the us imposed tariffs on steel and aluminum in June. Tariffs of approximately 3.8 billion US dollars have already been imposed by Europe.
The dollar was down against the yen, with a decline of the USD / JPY from 0.06% to 112.39. In times of uncertainty, investors tend to invest in the japanese yen, which is considered an active course during periods of risk aversion.
Elsewhere, the yuan continued to decline against the dollar after china’s central bank weakened its reference rate daily. The pair USD / CNY is up 0.10% to 6,7810, with a lowest of a year after the people’s Bank of China (PBOC) has reduced its fixing by 0.9% to 6,7671 to a dollar on Friday.
The british pound was also higher, with GBP / USD up 0.08% at 1,3024. The euro has gained ground, with EUR / USD rising 0.11% to 1,1656.