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On Friday, the common currency was still high because the evergreen buck declined and trade worries didn’t recede.
The currency pair EUR/USD managed to ascend by 0.26% reaching 1.1633 because German and French business activity in June turned out to be higher than anticipated, relieving worries of a slowdown in the European Union.
The UK currency was also high too. The currency pair GBP/USD managed to ascend by 0.20% being worth 1.3268.
The USD index, used to estimate the greenback’s purchasing power against six key currencies, inched down by 0.19% demonstrating a reading of 94.36.
Trade tensions between America and its allies resumed because on Friday the European Union put tariffs on $3.4 billion of American imports, including whiskey, motorbikes, and jeans in response to Donald Trump’s aluminum and steel duties.
Responding to this EU’s move, Trump wrote on Twitter that if the European Union doesn’t remove the duties, the US government will have to impose a 20% duty on all their vehicles coming to America.
The duties have backed tensions because market participants are afraid of a probable fierce global trade conflict between America as well as other key countries.
The evergreen buck was also held back by a slump in the Philadelphia Federal Reserve’s manufacturing index, which took place on Thursday. The index went down to a one-and-a-half-year minimum, spurring worries as for the strength of the American economy.
The US currency dived versus the safe-haven Japanese yen. The currency pair USD/JPY dipped by 0.07% hitting 109.91. In times of uncertainty, market participants are prone to investing in the Japanese yen because it’s considered a reliable safe asset during tough periods.
In addition to this, the Australian dollar managed to ascend. The currency pair AUD/USD gained by about 0.65% reaching 0.7425,
On Wednesday, the evergreen buck rose to its highest value for over a year because a crisis in the Turkish lira, which affected emerging markets, drove demand for the US dollar as a safe-haven asset…
On Tuesday, the common currency kept to a one-year minimum versus the evergreen buck and the Swiss franc…
On Monday, the evergreen buck managed to rally versus its rivals, although profits were tamed because the common currency went down from a 13-month minimum notwithstanding another rout in Turkey’s currency…
In February, Japan's exports probably ascended at the fastest pace for two years due to a softer yen as well as improving global demand, as a Reuters survey showed on Friday…
On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…
On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…
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