© Reuters. The dollar slips the euro rose
Investing.com – The dollar fell against a basket of currencies on Monday, after posting its biggest weekly increase in a month last week, as investors look to retail sales for the month of June.
The dollar index, which measures the greenback’s strength against a basket of six major currencies, slipped 0.15% to 94,30 at 06:27 AM (10:27 AM GMT). The index increased 0.7% last week, its biggest percentage weekly gains since mid-June.
The demand for the dollar continued to be supported because the risk of a new escalation of trade conflicts and the weak economic data in China have led investors to a more cautious approach.
The data showed that China’s economy has slowed in line with expectations in the second quarter, indicating that the trade dispute with the United States could dampen growth.
The chinese GDP has grown at an annual rate of 6.7% during the three months to June, down from 6.8% in the first quarter.
Also on Monday, China said it had lodged a complaint with the world trade Organization (WTO) against a threat of the United States to apply to customs duties of 10% on $ 200 billion of chinese imports.
This came after the us president, Donald Trump has alarmed european leaders over the weekend, declaring that the EU was an “enemy” on account of its trade with the United States.
The euro has reached a peak daily in the face of the weaker dollar, with the EUR / USD up 0.2% to 1,1709.
The dollar was little changed versus the yen refuge, with the USD / JPY to 112,38.
Investors look to retail sales for June in the United States later in the day.
The international monetary Fund should also publish its latest world economic outlook later on Monday.
The pound sterling rose 0.21% to 1,3263, investors continued to monitor ongoing developments in the United Kingdom this week. The minister Theresa May is facing a rebellion on the part of the extremists of the Brexit.