US dollar gets stronger at the end of the week

Posted 01 June, 2018

The US dollar is strengthening against the euro and yen on anticipated US labour market reports.

The US Dollar index hiked to some 94.93 on Thursday but then slowed down reaching some 94.07 on Friday.

According to the news reports, the White House stated yesterday that the import duties on steel and aluminium from the EU, Canada and Mexico will be launched soon after the US administration refused to extend the deferral period.

For reference, this is another move of Washington towards the imposition of the trade tariffs against other countries, taking into account duties on Chinese imports worth $50 billion. At the same time, Canada, Mexico, the EU and China claimed that they would consider countermeasures against such Trump's policy.

The US dollar-to-yen exchange rate rose to 109.15. The Japanese currency showed no response to the recent economic data in Japan that turned out to be better than expected. Capital business spendings in the country increased to 3.4% in January-March (forecast – 3.2%). In addition, manufacturing PMI in Japan was 52.8 in May, with the forecast set at 52.5 (the rate above 50 indicate the positive development of the industry). 

In China, the reference rate was set at 6.4078 (6.4144 earlier). The US dollar-to-yuan rate changed hands at 6.4120.

Previous story

01 June, 2018 11:40

← Bittrex expands services adding fiat US dollar

The US-based trading platform Bittrex has become able to accept fiat US dollar. For that purpose, the company has reportedly entered into an agreement with Signature Bank in New York. The company said that with this cooperation they would be able to expand provided services. Specifically, platform's corporate clients from some states can buy cryptocurrencies for US dollar.

Bittrex expands services adding fiat US dollar

Next story

31 May, 2018 15:43

Zcash to receive new update →

Zcash is about to receive software update 1.1.1 with some elements of Sapling network upgrade. The update was created by the developers aimed at boosting privacy of Zcash coin. According to the company blog, the Sapling upgrade is slated for this September, while before this date, the team will modernize Overwinter Zcash protocol at 347500 blocks this summer.

Zcash to receive new update
Write a comment
Prove you’re not a bot + 14 = 24