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

Forex - U.S. Dollar Down Slightly as Trade in Focus 

Published 08/27/2019, 11:06 AM
Updated 08/27/2019, 11:14 AM
© Reuters.

Investing.com - The U.S. dollar was slightly lower on Tuesday, while the safe-haven yen pulled back from earlier highs as traders paused to evaluate the possibility of the U.S. and China restarting trade talks.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.1% to 97.917 as of 11:04 AM ET (15:04 GMT).

Signals from both sides were mixed, as U.S. President Donald Trump claimed that China had called to ask to restart negotiations. Beijing has failed to confirm the calls, casting doubt on Trump's assertion. Still, both countries seem willing to think about resolving their differences.

Tensions escalated on Friday after both the U.S. and China announced new tariff measures and Trump appeared to threaten to use emergency powers to force U.S. companies to stop making goods in China.

The Japanese yen, which is seen as a safe-haven in times of market turmoil, rose with USD/JPY falling 0.2% to 105.94. China’s onshore yuan was still at a fresh 11-and-a-half year low, as traders worried the economy could slow down due to trade disputes.

Elsewhere, EUR/USD was flat at 1.1101. GBP/USD rose 0.5% to 0.2269 after falling 0.5% on Monday amid concerns on whether British Prime Minister Boris Johnson has made any progress in convincing the European Union to renegotiate the Brexit agreement.

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.