US dollar generally flat at Asian session

Posted 10 July, 2018

The US dollar was flat during the Asian session, while the Chinese currency kept recovering.

The US Dollar index slightly rose, reaching 93.86.

The greenback has recently recovered from the bottom driven by weaker sterling. For reference, the UK faces political crises after Boris Johnson, Minister of Foreign Affairs,  left the Parliament, following the resignation of David Davis.

After the decline earlier this morning, the US dollar-to-yuan exchange rate rose to some 6.6195. The PBOC set the reference rate for the yuan against the greenback at 6.6259 (6.6393 yesterday).

According to the available data, currency reserves of China hiked by $1.51 billion in June to $3.122 trillion, though it had been expected a decline by $10.6 billion. 

The US dollar-to-yen increased to 111.08 on further yen weakening in the pair. The Monday statistics showed that foreign balance plunged to JPY 1.85 billion against the expected JPY 1.18 billion. The Australian dollar dropped against its American counterpart reaching some 0.7459.

It seems that the US-Chine trade issue takes back seat and the markets focus on the economic reports and the development of the situation in the UK.

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10 July, 2018 14:24

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