Dollar mitigated due to concerns about the Central-American trade war
The dollar fell on Wednesday and touched the lowest level in the past four weeks because the markets remained concerned about the U.S.-China trade war.
The US dollar index, which tracks USD against a basket of six currencies, fell 0.02% to 94.61 at 1:10 AM ET (05:10 GMT). This index has dropped to 94.434 during the overnight session in the United States, the lowest since 31 Jul.
Minori Uchida, the main monetary strategist at MUFG Bank in Tokyo, said investors closely watched the changes in U.S. trade dispute-secondary time for public opinion on tariffs by President Donald Trump for commodity value 200 billion will end in early September.
A low-level trade talks between China and the US ended last week, however not achieving considerable progression, while Trump was reported to meet the co-grant of a peaceful fellow at the end of this year to discuss more about the issues Trade.
The USD/CNY rate rose 0.2% to 6.8153 on Wednesday when United States Secretary of Finance Steven Mnuchin appreciated the Chinese support for the Yuan Dong a week after President Donald Trump accused China of manipulating his currency.
Mnuchin said in an interview with CNBC on Tuesday that copper yuan is more tightly controlled currency than other currencies, however, if China supports local currency, that is not a manipulative act.
"If they [China] to co-weaken the yuan, either for structural reasons or because of the actual action, that's something called a movement," he added.
His opinion appears a week after Trump says China is manipulating yuan to compensate for the payment of import duties imposed by the United States.
Meanwhile, the USD/JPY exchange rate fell 0.03% to 111.17.
The AUD/USD rate is less changed at 0.7336 after it takes about 0.1% on the third day, and the NZD/USD rate does not change in 0.6708.
The US dollar index, which tracks USD against a basket of six currencies, fell 0.02% to 94.61 at 1:10 AM ET (05:10 GMT). This index has dropped to 94.434 during the overnight session in the United States, the lowest since 31 Jul.
Minori Uchida, the main monetary strategist at MUFG Bank in Tokyo, said investors closely watched the changes in U.S. trade dispute-secondary time for public opinion on tariffs by President Donald Trump for commodity value 200 billion will end in early September.
A low-level trade talks between China and the US ended last week, however not achieving considerable progression, while Trump was reported to meet the co-grant of a peaceful fellow at the end of this year to discuss more about the issues Trade.
The USD/CNY rate rose 0.2% to 6.8153 on Wednesday when United States Secretary of Finance Steven Mnuchin appreciated the Chinese support for the Yuan Dong a week after President Donald Trump accused China of manipulating his currency.
Mnuchin said in an interview with CNBC on Tuesday that copper yuan is more tightly controlled currency than other currencies, however, if China supports local currency, that is not a manipulative act.
"If they [China] to co-weaken the yuan, either for structural reasons or because of the actual action, that's something called a movement," he added.
His opinion appears a week after Trump says China is manipulating yuan to compensate for the payment of import duties imposed by the United States.
Meanwhile, the USD/JPY exchange rate fell 0.03% to 111.17.
The AUD/USD rate is less changed at 0.7336 after it takes about 0.1% on the third day, and the NZD/USD rate does not change in 0.6708.
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