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The dollar fell in early European trading despite trade tensions

2018-09-20 08:22 am | Resource: News | No Views : 173

The dollar fell against major currencies on Thursday, trading around an eight-week low as investors put their trade concerns aside for the time being.

Global markets seem to ignore the fears of an escalating trade war

European stock index futures opened mixed Thursday as investors continued to focus on the escalating trade war between China and the United States. After China responded by setting a tariff of $ 60 billion in US goods. However, China will set a 10% tariff on some of the goods previously allocated for a 20% tax.

Earlier this week, Washington announced a new set of tariffs on Chinese imports worth 200 billion dollars and Beijing responded with countermeasures aimed at US products worth 60 billion dollars. At the same time, the founder of Alibaba, Jack Ma, pointed out that his previous promise to create one million jobs in the United States was no longer realistic due to trade tensions between the two countries.

Traders also followed the outcome of the inter-Korean summit, where South Korean President Mon Jae-un and North Korean leader Kim Jong-un pledged to work towards nuclear disarmament in the region and launch a number of projects to boost cooperation and reduce tensions.

Dollar Trading vs. Currencies
  • The dollar index, which measures the strength of the dollar against a basket of six major currencies, fell 0.15% to hit 93.97 at 0845 GMT
  • The Australian dollar traded near a three-week high of 0.7265 against the dollar.
  • The British Pound was up 0.25% at 1.3175, near the two-month high of 1.3215 yesterday's closing levels
  • The euro traded at 1.1700, up 0.2 percent
  • The New Zealand dollar jumped to a three-week high of 0.6661 after data showed GDP grew at the fastest pace in two years in the second quarter.

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Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 17 April 2019

We offer you the analysis of the US dollar against the Japanese Yen on Wednesday, April 17, 2019 with the most important expectations for the dollar against the Japanese yen on the market. Time frame Used - four hours The USD/JPY is moving in a bullish direction in the near term. USD/JPY is still facing resistance and selling pressure around 112.10 as the USD-JPY closed yesterday's session down below 112.00…

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