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Dollar Holds Gains as U.S.-China Frictions Rattle Asian FX
Friday, 22 May 2020 10:07 WIB | CURRENCIES |DOLLAR Indeks DolarDolar AS

The dollar held gains against major peers on Friday as worries about renewed diplomatic tensions between the United States and China supported safe-haven demand for the greenback.

Sino-U.S. relations have soured yet again over a broad range of issues, including China's treatment of the former British colony of Hong Kong and its response to the coronavirus pandemic, which is causing risk aversion to spread.

The fresh geopolitical strains have rattled Asian currencies such as China's yuan and the Australian and New Zealand dollar.

The dollar traded at $1.0948 per euro in Asia on Friday, following a 0.3% increase in the previous session. The dollar bought 0.9710 Swiss franc after posting its biggest gain in more than two weeks on Thursday. Sterling held steady at $1.2228 before data later on Friday expected to show a plunge in British retail sales.

Source : Reuters

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