Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Dollar Up as U.S.-China Tensions Escalate

Published 06/04/2020, 12:01 AM
Updated 06/04/2020, 12:09 AM
© Reuters.

By Gina Lee

Investing.com – The dollar was up on Thursday morning, with investors turning to the safe-haven asset as U.S.-China tensions flared up overnight.

In its latest move, the U.S. suspended flights into the U.S. by Chinese airlines effective from June 16 after China barred American carriers from re-entering China.

Relations between the two countries soured after China approved the enactment of national security laws in Hong Kong and Macau last month.

Hong Kong’s Legislative Council has started voting on national anthem bill, a precursor to the national security laws.

The U.S. Dollar Index that tracks the greenback against a basket of other currencies gained 0.21% to 97.465 by 12:12 AM ET (5:12 AM GMT).

The USD/JPY pair was up 0.11% to 109 and the USD/CNY pair was up 0.20% to 7.1260.

The AUD/USD pair lost 0.33% to 0.6896. Australia’s Bureau of Statistics said earlier in the day that retail sales for April fell by a seasonally adjusted 17.7% in April.

The bureau also said that GDP fell 0.3% during the first quarter of 2020 on Wednesday.

The NZD/USD pair slid 0.09% to 0.6413 and the GBP/USD pair lost 0.28% to 1.2536.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.