Dollar stabilizes as euro fell under political pressure due to Brexit
2019-08-20 01:13 pm | Resource: News | No Views : 36
The yen and the Swiss franc rose against the dollar on Tuesday, while the dollar was little changed in European trading but began to build momentum against the euro despite fears over rising trade tensions between the United States and China.
European Commission: Ireland's arrangement is the only way to avoid border barriers
The European Commission said that the arrangement for Ireland is the only way reached by the European Union and London to avoid a return to the strict border barriers on the island of Ireland after the exit of Britain from the bloc. British Prime Minister Boris Johnson sent a letter to the bloc on Monday to demand the bloc remove Ireland's arrangement from the disengagement agreement.
"The letter does not provide an executive legal solution to prevent a return to border barriers on the island of Ireland," European Commission spokeswoman Natasha Bertu told a news briefing.
China's growth outlook slumped
The German Center for European Economic Research said on Tuesday that its latest survey showed that the outlook for the Chinese economy has worsened amid its trade tensions with the United States. The Chinese economy index, which reflects the country's macroeconomic development over the next year, stood at 4.9 points in August, down 4.8 points from the July figure of 0.1.
Michael Schroeder, senior researcher at the Department of International and Financial Research at ZEW, said. Experts predict the yuan will continue to depreciate against the US dollar. According to forecasts, the current exchange rate will shift from 7.03 yuan per US dollar to 7.07 yuan per US dollar in the next three months, and to 7.14 yuan per US dollar in the next 12 months. The devaluation of the yuan supports China's exports on the one hand, but it may also contribute to a further escalation of the trade dispute with the United States, "
- The dollar index, which tracks the greenback versus a basket of currencies, rose less than 0.1% to 98.257.
- The euro reached $ 1.1079 and is looking to test last week's low of $ 1.1066
- The euro was up against the pound as the pound traded at 1.0927 against the euro, down 0.3%
- The height of the franc. At 1.0854 for the euro, it has risen almost 10% over the last 16 months,
- The dollar fell 0.31% to 106.31 yen, and fell 0.22% to 0.979 against the Swiss franc, at 02:11 pm CET.
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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