Friday, 05 June 2020
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U.S.-China tensions lift dollar 0.3%
Friday, 22 May 2020 15:20 WIB | CURRENCIES |DOLLARCurrency

The dollar rose on Friday in overnight trading and extended its gains in early London trading, after U.S.-China tensions boosted demand for safe-haven currencies.

U.S. President Donald Trump said that Washington would react œvery strongly to new Chinese legislation on Hong Kong, which could lead to new pro-democracy protests.

Sino-American relations have worsened during the coronavirus pandemic. The U.S. has ramped up its criticism of China, blaming it for the spread of the virus, which originated in Wuhan.

Against a basket of comparable currencies, the dollar was last at 99.7, up 0.3% since New York's close. After two consecutive weeks of gains, the dollar looks set to end this week down around 1%.

The euro was down around 0.3% against the dollar, at $1.092, having hit a three-week high of $1.1008 on Thursday. The Japanese yen was up around 0.2% against the dollar, at 107.36.

Source : Reuters

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