Trade tensions bolster US dollar

Posted 05 September, 2018

The US dollar remains near the weekly peeks vs the majors in the middle of the week benefiting from good demand driven by persisting trade tensions among other reasons.

The US Dollar index rose to 95.47 in the course of the day, coming closer to the week-and-half peak of 95.68.

The euro has lost grounds against the US dollar staying at some 1.1577.  The greenback improved in the pair with the Japanese currency to 111.63. The sterling stays depressed. The sterling-to-US dollar rate dropped to some 1.2809 affected by fears of no deal Brexit scenario.

The Australian dollar also posted a negative dynamics sliding to 0.7173 against the American counterpart, though the country posted the highest economic performance over the past six years.

The lira in its turn keeps falling fueled by persisting concerns about possible economic and currency crisis.

The US dollar saw better demand since investors prefer protective assets seeing the influence of Trump's protectionism on the global economic upturn.

The market also waits for Thursday as Donald Trump is about to launch new tariffs on Chinese imports worth $200 billion, which will aggravate the ongoing conflict.
It is worth mentioning that China showed slower business activity overnight, which indicates a trade war's negative impact on demand.

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