Forex: The Dollar remains unchanged in the face of trade tensions

© Reuters. – The u.s. dollar remained stable on Monday following the rise in trade tensions after the chinese giant Huawei has been put on the black list to the White House.

The dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.1% to 97,748 at 16.25.

Google (NASDAQ: GOOGLE) and other companies have announced over the weekend that they had stopped doing business with Huawei, raising more uncertainty as to the outcome of the trade negotiations between the United States and China.

During this time, the rhetorical tension between the United States and Iran continues after the us president, Donald Trump has tweeted about the “official end of Iran”.

Iranian minister of Foreign Affairs, Mohammad Javad Zarif, has accused Trump of having disseminated “provocations génocidales” in response, adding that the president should “try respect”.

The dollar was down against the yen as a refuge, the USD/JPY retreating from 0.1% to 109,93. The japanese economy has grown surprisingly in the last quarter, but concerns related to the reduction of the expenses have overshadowed the report.

The euro posted gains, with EUR/USD rising 0.1% to 1,1167, while USD/CAD has lost 0.2% to 1,3420. The pound sterling increased slightly, with GBP/USD rising 0.1% to 1,2733.

Like this post? Please share to your friends:
Leave a Reply