The U.S. dollar recovered after early losses on Monday, as investors hoped that Washington might ease the latest escalation in its trade conflict with Beijing. Political developments in France and Japan weighed on the euro and yen.
اضافة اعلان
The Dollar Index, which measures the U.S. currency against a basket of six major currencies, rose to 99.002, recouping some of the losses triggered by President Donald Trump’s announcement of a 100% tariff on China.
This move had previously sparked concerns of a broad tariff rollout in April, causing a sell-off in stocks and cryptocurrencies on Friday. Tim Kelliher, Head of Institutional FX Sales at Commonwealth Bank in Auckland, said:
"The situation is extremely tense there. If you look at U.S.-China developments, it seems Trump… has softened his tone," noting the trading adage: "Trump always retreats."
Against the yen, the dollar rose 0.5% to 151.985 JPY.
The euro stabilized at $1.1609, down 0.1%, following the announcement of France’s new government under Prime Minister Sébastien Lecornu on Sunday.
Cryptocurrency markets fluctuated after Friday’s sharp sell-off, with Bitcoin rising 0.4% to $115,486.04. Gold hit a new record of $4,059.30, rising 0.8% in recent trades.
The offshore yuan traded at 7.137 CNY per USD, up 0.1% in early Asian trading.
Other currency movements included:
Australian dollar: +0.6% to 0.6513 USD
New Zealand dollar: +0.3% to 0.57345 USD
British pound: +0.1% to 1.33415 USD
Source: Reuters
