Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

Forex - U.S. Dollar Falls on Trade Worries; Euro Rally Stalls

Published 06/06/2019, 10:39 AM
© Reuters.

Investing.com - The U.S. dollar was lower on Thursday, as traders remained wary after U.S. President Donald Trump said he would make a decision on Chinese tariffs after the G20 summit.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.3% to 96.968 by 10:38 AM ET (14:38 GMT).

Trade tensions escalated after Trump said he could add up to $300 billion of more tariffs on China and that he would make a decision after the G20 summit at the end of June.

Traders are also monitoring the Federal Reserve for more hints on if it will cut rates after Fed Chairman Jerome Powell said the central bank would “act as appropriate to sustain” the economy.

The dollar was lower against the safe-haven Japanese yen, with USD/JPY falling 0.2% to 108.19.

Meanwhile, the euro was higher after the European Central Bank kept rates steady, but lost some gains after ECB President Mario Draghi volunteered that some of his colleagues had argued for a resumption of quantitative easing, arguably the most powerful tool in the central bank armory at present.

EUR/USD rose 0.5% to 1.1270 after hitting a session high of 1.1287.

Sterling inched up, with GBP/USD gaining 0.2% to 1.2713, while USD/CAD slipped 0.2% to 1.3379.

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.