U.S. Dollar Slides On Trade Concerns
24 Septiembre 2018 - 03:48AM
RTTF2
The U.S. dollar declined against its most major counterparts in
the European session on Monday, as China pulled out of trade talks
with the U.S., escalating trade tensions between the world's two
largest economies.
China cancelled planned trade talks with the U.S. and also
cancelled a planned visit to the U.S. by vice premier Liu He
scheduled for this week, as a new round of U.S. tariffs on Chinese
goods kicked in, triggering fears of a protracted trade dispute
between the world's two largest economies.
Investors awaited the Federal Reserve's two-day monetary policy
meeting ending on Wednesday, with economists expecting the central
bank to raise interest rates by another quarter point.
The accompanying statement is likely to attract considerable
attention along with Fed Chairman Jerome Powell's press conference
as traders attempt to gauge the outlook for further rate hikes.
The day's economic calendar is quiet, with Dallas Fed
Manufacturing Business Index due shortly.
The currency held steady against its major counterparts in the
Asian session, with the exception of the yen.
The greenback fell to 1.3161 against the pound, from a high of
1.3063 seen at 2:30 am ET. Next key support for the greenback is
likely seen around the 1.34 level.
The Industrial Trends Survey from the Confederation of British
Industry showed that UK manufacturing orders deteriorated in
September as export order books faded a little.
The total order book balance fell to -1 percent in three months
to September, in contrast to the forecast of +4 percent. The export
order book balance stood at +5 percent.
Having advanced to a 4-day high of 1.1724 against the euro at
2:30 am ET, the greenback reversed direction and dropped to 1.1775.
The next possible support for the greenback is seen around the 1.19
area.
Survey data from Mannheim-based Ifo institute showed that
Germany's business confidence weakened slightly in September.
The business sentiment index fell to 103.7 in September from
103.9 in August. Economists had forecast the score to drop to 103.2
from the originally estimated 103.8 in August.
The greenback retreated to 0.9584 against the franc, from a high
of 0.9606 seen at 2:15 am ET. The greenback is poised to challenge
support around the 0.94 mark.
The greenback eased to 0.7279 against the aussie, from a 5-day
high of 0.7253 touched at 2:15 am ET. The greenback is likely to
find support around the 0.745 region.
On the flip side, the greenback advanced to 112.71 against the
yen and held steady thereafter. This may be compared to a 4-day low
of 112.40 hit at 5:00 pm ET. At last week's close, the pair was
worth 112.55.
Sterling vs US Dollar (FX:GBPUSD)
Gráfica de Divisa
De Feb 2024 a Mar 2024
Sterling vs US Dollar (FX:GBPUSD)
Gráfica de Divisa
De Mar 2023 a Mar 2024