The Dollar Falls Despite Calm Currency Markets

The Dollar Falls Despite Calm Currency Markets

 

 

 

 

The dollar fell on Tuesday as a result of fears of trade tensions between the United States and China despite the stability of currency markets largely ignored by the potential impact of the dispute on global growth.
US stock markets fell sharply on Monday as investors abandonedtechnology stocks and renewed trade war fears.
The dollar fell against the yen, which usually benefits from economic uncertainties, for a third day in a row, but the decline ended on Tuesday as investors abandoned the Japanese currency.
The yen fell 0.2 percent to 106.075 against the dollar.
The dollar index, which tracks the performance of the greenback against a basket of currencies, fell 0.2 percent to 89.13, while the euro rose 0.2 percent to $ 1.2324.
The euro maintained gains even after a survey showed Italy’s manufacturing sector remained relatively strong but slowed sharply in March for a second straight month.
High yielding currencies, such as Canadian, New Zealand and Australian dollars, all rallied against the dollar, indicating that the market is not much concerned at the moment that the trade dispute will undermine global economic growth.
The Australian dollar rose 0.5 percent to $ 0.7695 after recording a three-month low of $ 0.7643 last week.

Source: alforatnews

US approves $1.31 billion of artillery to Saudis
Trump Freezes $200m Dedicated to Rebuilding Syria