US dollar gets stronger on Thursday

Posted 21 June, 2018

The US dollar has posted gains against the majors on persisting tensions over US-China trade issue.

At the same time, the US trade minister reportedly said to the Senate that neither nor Washington nor Beijing wants trade wars. Moreover, Donald Trump stated he would sign new trade agreements with some countries, though did not name these countries.

The euro has weakened against the US dollar to some 1.1540 ($1.1572 a day before).

The greenback gained positions against the Japanese currency as well. The US dollar to yen rate was seen at 110.55 (110.36).

As commented Asia region expert at Commonwealth Bank of Australia, the US dollar upturn is fueled by trade tensions and the difference between the monetary policy in the USA and other countries.

Specifically, the chairmen of the Central Banks warned at the ECB Forum in Portugal that the trade clashes have a high impact on the global economy and particularly financial markets.

Meanwhile, Jerome Powell, the Head of US Federal Reserve, reportedly claimed that the market should not overestimate the signals of the labour market overheating, noting that the US regulator did not expect skyrocketing inflation on low unemployment rates and high workforce demand.

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22 June, 2018 10:44

← US dollar trimms gains on Friday, while sterling gets support from BOE

On Friday, the US dollar is no longer on almost a year peak against the majors. The decline is related to investors' interest in taking profit after the hikes. At the same time, the sterling recovered from the bottom driven by unexpected bullish sentiments in the monetary policy of the Central Bank. The US Dollar index decreased to 94.23, while earlier it was recorded at 95.533.

US dollar trimms gains on Friday, while sterling gets support from BOE

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