With markets and foreign currency investors looking to see whether the United States will impose new tariffs on China, the US dollar fell against major currencies early on Friday. The dollar index, which measures the strength and performance of the dollar against other competitors fell by 0.09%, to 94.90 points in the day’s early session.
US President Donald Trump is expected to impose new customs duties on Chinese goods worth 200 billion dollars imported to the United States, according to reports from the White House. China said it would retaliate if new tariffs were imposed.
At the same time, trade talks continue for the renewal of the North American Free Trade Agreement (NAFTA) between the United States and Canada. Canada has indicated that there is a possibility of reaching an agreement, although it is not likely that it would happen by the end of Friday.
In terms of major currency pairs, the Canadian Dollar was up against the US Dollar, with USD / CAD shedding 0.09% to trade at CAD 1.3311. The dollar also fell against the Japanese yen, which is always considered a safe haven for investors in the event of a US dollar faltering, and the pair decreased by 0.04% to trade at 110.72 yen per dollar.
The Turkish lira also rose against the US dollar during early trading, with the USD / GBP falling 1.73% to hit 6.452. The Australian dollar fell against the greenback by 0.31%, with AUD / USD trading at 0.7160 USD per Australian dollar, and the New Zealand dollar fell against the US dollar by 0.12% to trade at 0.6582 USD per NZD.
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