US dollar touches monthly bottom

Posted 28 August, 2018

The US dollar generally keeps losing positions vs the majors hitting a monthly bottom. Washington signed a partnership agreement with Mexico, which reduced a risk of another trade war. 

The US Dollar index was recorded at 94.55.

The euro got stronger against the greenback hit a new peak at 1.1717, though it slightly decreased to 1.1707 in the course of the day. The US dollar-to-yen rate somewhat changed moving up to 111.15

Turkish lira plunged by more than 1% driven by the persisting conflict between the countries that entails measures being negative for the region.

The sterling rebounded vs the US dollar. On Tuesday, the sterling-to-US dollar rate rose to 1.2926. Theresa May stated that the skies will not fall if the UK leaves the EU without an agreement. Such statement is believed to soften the message of the Chancellor of the Exchequer, reading that a no deal Brexit could hurt the UK economy.

For reference, Washington and Mexico have signed a bilateral trade agreement, which is said to become a NAFTA replacement. As a result, demand for protective assets slackened.

However, Donald Trump noted that tariffs on cars of Canadian origin can remain effective if Canada refuses to sign a new agreement. Moreover, he demands that Canada lowers duties on dairy products supplies from the USA.

As for US-China issue, the recent talks brought no fruits, with just new mutual duties imposed.

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29 August, 2018 11:25

← US dollar stronger vs euro in middle of the week

The US dollar moves up against the European currency driven by positive international trade reports and shows steady positions against the yen. The WSJ Dollar index (an indicator of US dollar changes against 16 main currencies) improved by 0.15% today. The euro has weakened against the greenback to $1.1667, compared to $1.1695 recorded yesterday.

US dollar stronger vs euro in middle of the week

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28 August, 2018 15:23

Public in China can now report about illegal crypto activities →

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Public in China can now report about illegal crypto activities
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