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On Monday, the evergreen buck dived further versus other currencies in Asia. The major American currency was suppressed by global worries of a full-blown trade conflict between the world’s two leading economies – China and America. Additionally, market participants are waiting for the American GDP figures.
Indicating greenback’s value versus a bunch of major currencies, the US dollar index was last seen at 88.98, declining 0.12%, reaching a one-month minimum.
The previous week, Donald Trump decided to have import tariffs imposed on about $60 billion of Chinese imports in an attempt to offset misappropriation of American intellectual property.
Meanwhile, the People’s Bank of China is set the fix rate of Yuan versus the evergreen buck at 6.3193 compared to yesterday’s 6.3272. The currency pair USD/CNY pair dived 0.04% coming up with 6.3120.
In response to the American anti-China duties, China is all geared up to imposing retaliatory duties on $3 billion of American imports. China intended to levy 15% duties on fruit, wine, steel pipes as well as other US products. The Asian country also considered adding 25% duties on recycled aluminum and pork. The strengthening tensions between the two countries are heavily affecting traders’ risk appetite.
The currency pair USD/JPY tacked on 0.20% offering a result of 104.95, having dived to a one-month minimum at 104.67 on Monday. On Monday, the currency pair dived to the 104 band having traded above the 106 mark the previous week.
The deepening of the fierce political scandal in Japan was also considered to be a catalyst to drive the Japanese yen.
The currency pair AUD/USD pair hit 0.7728, tacking on 0.38%. Additionally, Australia is waiting for its February’s HIA new home sales data as well as a speech from the country’s major bank’s Assistant Governor Kent. It should take place on Tuesday.
On Friday, the evergreen buck declined versus its counterparts due to the fact that Fed Vice Chairman Richard Clarida expressed concerns as for global surge and came up with quite dovish remarks on monetary policy…
On Friday, the UK currency managed to inch up notwithstanding worries over Brexit as well as the resignation of major statesmen in Prime Minister Theresa May’s cabinet…
On Thursday, the evergreen buck surged versus its counterparts because mostly bullish economic data managed to reaffirm investor hopes that the American economy is still on firm footing, while a dive in the UK currency also backed sentiment…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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