Dollar Up Slightly As Trade War Concerns Linger
The U.S. dollar was mostly subdued slightly above the unchanged line on Wednesday with traders weighing political and economic news from across the globe for direction.
The ongoing trade spat between the U.S. and China threatens to significantly impact global economic growth.
Earlier this week, the markets were reacting to news that the U.S. administration will hike tariffs on $200 billion worth of Chinese goods to 25% from the existing 10% from this Friday.
U.S. President Donald Trump noted in a post on Twitter that Chinese Vice Premier Liu He will be a part of the talks, claiming the high-ranking official is "coming to the U.S. to make a deal."
"We'll see, but I am very happy with over $100 Billion a year in Tariffs filling U.S. coffers...great for U.S., not good for China!" Trump tweeted.
Trump also claimed China is attempting to renegotiate terms of a trade deal in order to strike a new deal with a Democratic president that continues to rip off the U.S.
The U.S. dollar index, which 97.68, was last seen hovering around 97.60, up 0.06% from previous close.
Against the Euro, the dollar was $1.1192, after moving between $1.1183 and $1.1215.
The British Pound Sterling weakened to $1.3009, losing more than 0.5% against the dollar.
The Chinese yuan was down 0.2% against the greenback, extending losses to a third straight day, due to rising concerns over U.S.-China trade war.
The Aussie and loonie were lower by 0.37% and 0.04%, respectively, against the greenback. The Swiss franc was down as well, with the dollar-franc pair trading at 1.0208.News are provided by