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

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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 , 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 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 , arguably the most powerful tool in the central bank armory at present.

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

Sterling inched up, with gaining 0.2% to 1.2713, while slipped 0.2% to 1.3379.

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https://www.investing.com/news/forex-news/forex--us-dollar-falls-on-trade-worry-euro-jumps-after-ecb-decision-1890521

2019-06-06 14:39:00Z
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