Forex- US Dollar Inches Down as Trade Tensions Weigh

© Reuters. The dollar was lower on Monday.

Investing.com - The U.S. dollar was lower against other currencies on Monday, as trade tensions outweighed expectations for a Federal Reserve rate hike in September.

The , which measures the greenback’s strength against a basket of six major currencies, fell 0.12% to 95.27 as of 5:12 AM ET (9:12 GMT).

The greenback was down despite Friday’s increasing expectations of a in at its next meeting September 25-26.

Meanwhile trade tensions with China continued, as U.S. President Donald Trump warned he would impose tariffs on $267 billion worth of Chinese imports, on top of an earlier promise of tariffs on $200 billion worth of Chinese goods.

China’s foreign ministry said on Monday that it would .

"If the U.S. side obstinately clings to its course and takes any new tariff measures against China, then the Chinese side will inevitably take countermeasures to resolutely protect our legitimate rights," Foreign Ministry spokesman Geng Shuang said.

The dollar rose against the safe-haven yen, with increasing 0.06% to 111.09. In times of uncertainty, investors tend to invest in the Japanese yen, which is considered a safe asset during periods of risk aversion.

The lower dollar pushed the euro and sterling higher. rose 0.18% to 1.1573 and increased 0.23% to 1.2945.

Meanwhile the Australian dollar was lower, with rising 0.28% to 0.7125 while was down 0.02% to 0.6531. The Swedish crown rose after , despite a hung parliment. fell 0.13% to 9.0464.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Read Again Forex- US Dollar Inches Down as Trade Tensions Weigh : https://ift.tt/2CCf8A6

Let's block ads! (Why?)