The dollar was mixed in early trading in Europe on Monday, trading lower against haven currencies and higher against proxies for risk appetite in the wake of President Donald Trump’s threats to impose fresh tariffs on Chinese imports.
The euro had fallen just under half a cent late on Sunday after Trump threatened to raise existing tariffs on $200 billion of Chinese imports from 10% to 25%, and to levy new tariffs of 25% on a further $325 billion so far unaffected by the U.S.-China trade dispute.
However, the euro had recouped most of its initial losses to trade at $1.1193. Trade is set to be relatively quiet Monday due to the public holiday in the U.K. The main data event of the day will be service PMIs from across the region.
Elsewhere, the British pound weakened slightly as hopes of a cross-party deal to break the impasse on Brexit faded. The pound was down 0.4% at $1.3124.
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29 May 2020 02:58 PM
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29 May 2020 02:36 PM
The Indian rupee fell against the dollar this month, as the Sino-U.S. diplomatic spat over Hong Kong worsened and as U.S. President Donald Trump voiced his displeasure over China's handling of the coronavirus crisis.
29 May 2020 11:45 AM
Indian shares paused on Friday after two days of strong gains, led by a pullback in banking stocks, ahead of the release of domestic GDP data, while heightened U.S.-China tensions further weakened sentiment.
29 May 2020 11:16 AM
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