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Dollar gains and yuan hits nine-month low as U.S.-China tensions return
Wednesday, 27 May 2020 15:17 WIB | CURRENCIES |DOLLARCurrency

The U.S. dollar edged higher on Wednesday and China's yuan hit a near nine-month low as worries about the U.S. response to China™s proposed security law for Hong Kong injected a more cautious tone into foreign exchange markets.

The U.S. currency had fallen sharply on Tuesday as strong risk appetite encouraged investors into riskier currencies, but that sentiment was much less buoyant in early trading on Tuesday.

The dollar, measured against a basket of currencies, rose 0.1% to 99.146. The euro, which rose sharply on Tuesday, fell 0.2% to $1.0961, as investors waited for the European Commission to release details of a financial rescue fund for the bloc.

The dollar slipped marginally against Japan™s currency, last trading down 0.1% at 107.49 yen.

Sterling and commodity-linked currencies such as the Australian dollar fell after Tuesday's jump as investors turned more cautious.

Source : Reuters

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