The US dollar rose to Thursday’s high against a range of major rivals, managing to reverse past losses after the Trump administration retreated from the escalating trade conflict between Washington and Beijing.<\/p>\n
The US Dollar Index, which measures the strength and performance of the greenback against a basket of six major currencies, rose 0.41% to trade at 94.75 points.<\/p>\n
Sentiment in the currency markets has been reinforced with signs that the United States is moving away from a blanket ban on Chinese companies investing in US companies, and talks are currently being conducted about using a strengthened security review to deal with the issue.<\/p>\n
On the economic side of things, a report showed that the US trade deficit narrowed to $64.85 billion in May. Exports rose to $143.6 billion, while imports rose to $208.4 billion.<\/p>\n
Another report showed that although new orders for capital goods fell unexpectedly over last month, the April figure was revised sharply. The US Department of Commerce said orders for non-defense goods excluding aircraft fell 0.2 percent from expectations of an increase of 0.5 percent. The figure was revised in April, to show a 2.3% increase from the original estimate of 1% gains. Data on Wednesday also showed that pending home sales in the United States fell unexpectedly in May.<\/p>\n
The dollar reversed losses against the yen, which is considered a safe haven, with the USD \/ JPY rising 0.32% to trade at 110.41 yen per dollar, but retreated from the previous session’s figure of 109.37 yen. The euro was also lower against the dollar, with EUR \/ USD shedding 0.47% to trade at $1.1593.<\/p>\n
The GBP \/ USD pair also shredded 0.9%, to hit $1.3147 a pound. The British pound remained under pressure after Bank of England policymaker Jonathan Haskell declared on Tuesday that there could be more recession in the UK economy, which could weaken interest rate hikes.<\/p>\n","protected":false},"excerpt":{"rendered":"
The US dollar rose to Thursday’s high against a range of major rivals, managing to reverse past losses after the Trump administration retreated from the escalating trade conflict between Washington and Beijing. The US Dollar […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":644,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[49],"tags":[28,27,52,50,77,51,25,26,29,39],"_links":{"self":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/643"}],"collection":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/comments?post=643"}],"version-history":[{"count":2,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/643\/revisions"}],"predecessor-version":[{"id":656,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/643\/revisions\/656"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media\/644"}],"wp:attachment":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media?parent=643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/categories?post=643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/tags?post=643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}