US dollar gets stronger vs majors on Monday

Posted 01 July, 2019

The US has started the week with an increase in the Asian session. The greenback has strengthened positions against the majors. AT the same time, the safe haven asset, the Japanese yen faced slower demand which can be explained by an agreement between Washington and Beijing to resume trade talks.

The US dollar index improved by some 0.40%.

The euro-to-US dollar exchange rate was at $1.1332 during the Asian trading. The previous session was closed at$1.1373.

The US dollar-to-yen rate went up to some 108.39 (107.85 last Friday).

At the same time, Chinese yuan posted gains vs the greenback with the rate staying at $6.8456 ($6.8668 earlier).

Notably, the leaders of two major economies held a meeting during the G20 Summit held in Osaka last Saturday. The parties agreed on the sanction "ceasefire".

The market analysts stated that the Washington-Beijing trade issue took a backseat for a while, and now the American economic data would be in the spotlight.

For reference, the June Manufacturing ISM report on business is expected to be released today in the USA. At the same time, the US Labor Department will post a labour market report for June this Friday.

Meanwhile, in China, it was reported lower manufacturing PMI in June. Processing industry PMI remained unchanged m-o-m at 49.4 (the level below 50 means weakening in the sector), as the state statistics showed. 

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