Euro gets stronger vs US dollar, yen enjoys better demand

Posted 16 May, 2019

The US dollar has slightly slackened against the euro on Thursday. The Japanese yen is slowly gaining grounds on better demand for protective assets amid trade tensions between the USA and China. Investors can take a breath once Donald Trump commented on possible delay of the car duties launch for about 6 months

The US Dollar index weakened to some 97.

The euro-to-US dollar exchange rate rose to some $1.1211, while the previous session was closed at $1.1201 yesterday.

The pound sterling rate has trimmed gains reaching $1.2850 today.

At the same time, the greenback initially dipped against the Japanese currency with the rate reaching 109.45, but then restored positions to some 109.67 during the session.

As the market analyst stated, an unclear situation connected with the China-US trading conflict generally depresses the US dollar. 

It should be mentioned that the US President Donald Trump has lately signed the act that enables the White House to prevent overseas informational companies from accessing the US market if they pose a threat to the USA.

Moreover, the US Department of Commerce stated that China's giant Huawei Technologies Co. can be added to the block list as its activities conflict with the national interests of the USA. Another market analysts said that Washington almost directly stated its readiness to launch a large-scale technological war with China.
As a result, this move spreads the trade conflict between the countries to a new battlefield.
 

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