Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Forex - U.S. Dollar Dips as Trump Says No Deal to Huawei 

ForexAug 09, 2019 11:42AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

Investing.com - The U.S. dollar fell slightly on Friday after U.S. President Donald Trump said America will cut all ties with Chinese tech company Huawei in a signal that the tit-for-tat trade war is unlikely to end anytime soon.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.1% to 97.417 by 10:48 AM ET (14:48 GMT).

The news came after Beijing halted its purchases of U.S. farming goods on Monday. Trade tensions escalated this week after the U.S. officially declared China a currency manipulator and China allowed the yuan to weaken to below 7 to the dollar.

In additions, Huawei was blacklisted in May for national security concerns, which prevented American companies from doing business with the tech giant.

The Japanese yen, which is seen as a safe-haven in times of market turmoil, rose with USD/JPY down 0.4% to 105.59.

The euro inched up slightly, held back by political uncertainty in Italy after Deputy Prime Minister Matteo Salvini called for a vote of no confidence in the governing coalition, which could lead to snap elections. EUR/USD rose 0.2% to 1.1198.

Meanwhile GBP/USD fell 0.5% to 1.2073 after second-quarter GDP fell 0.2%, increasing recession fears on the back of Brexit uncertainty.

Forex - U.S. Dollar Dips as Trump Says No Deal to Huawei 
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (3)
Matthew Lim
SilkRdEconomist Aug 10, 2019 11:04PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Trump is biz man who understands the game by US rules thinking the others will have to bend to his rhetoric. As someone who just co-chaired a sector, the quantum- game theory ran trillions pathways and one that is going on might make not just Trump but the US go on bended knees.While China had tried to incorporate US and it's cohort into BRI that has 30+ currency swaps after Trump won and abandoned TPP, it seemed all the more Trump's administration just want to disrupt everything the way it did with TPP.Well, unlike the US political system, come what may, China BRI etc will go on by Xi's successor, overcoming whatever hiccups.Let's watch how Trump would frustratingly try to look as if he can win when China had not retraced at all, nor retaliated yet because it has other trading partners to considered.
Tony SK Lai
Tony SK Lai Aug 09, 2019 12:51PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Except deal with their mom
David David
David9 Aug 09, 2019 11:36AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Trump is really itching to get China back on the table. I think China said no. I think Trump either needs to apologize to President Xi Jing to renew the talks. Or show China some goodwill by lifting all tarriffs, lift ban on Huawei. Then China respond in kind by buying boat loads of agriculture, then a deal can happen after that.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
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.
Continue with Google
or
Sign up with Email