Trump's decision pushes US dollar down from peak

Posted 02 March, 2018

After hitting a month and a half top the US dollar slightly decreased on Friday on the statement of the US President Donald Tump.

The US Dollar index dipped to 90.20 (some 0.13% down). A day before the index peaked at 90.93, which is the highest level since the second half of January.

The greenback somewhat weakened on Donald Trump's announcement about a launch of high duties on import steel and aluminum, according to Reuters report.

The White House stated that these measures are aimed at protecting national production sector. However, the US dollar and US shares reportedly slackened due to concerns about possible trade war and negative consequences of such development.

"Simply put, both US consumer and corporate sectors are seen losing out from the tariffs, and that is the logic hurting the dollar," commented Masashi Murata, senior currency strategist at Tokyo-based Brown Brothers Harriman.

Euro increased to $1.2275 but posted 0.25% decline w-o-w anyway. In Europe, investors are reportedly focused on two major events to take place this weekend – general election in Italy and German's coalition talks after which Angela Merkel can get new presidential term.

The sterling showed just slight fluctuations staying at $1.3782.

The US dollar-to-yen rate decreased to 105.70. AUD-USD and NZD-USD pairs changed hands at 0.7760 and 0.7267. The Candian dollar stays at 1.2847.

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02 March, 2018 12:39

← Bill Gates goes off on crypto market, bitcoin leaps up anyway

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Bill Gates goes off on crypto market, bitcoin leaps up anyway

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