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USD little changed

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The dollar inched higher on Wednesday after dipping to a four-week low overnight, but relief over a U.S-Mexico trade deal was dimmed by concerns that the China-U.S. trade war will drag on for some time.

The dollar index against a basket of six major currencies was barely changed at 94.720 as of 0315 GMT, after trading as low as 94.434 during the U.S. session, its lowest since July 31.

The greenback retraced its losses in U.S. trade after the U.S. consumer confidence index came in higher than expected, reaching its highest level since October 2000.

The deadline for public comment on U.S. President Donald Trump’s tariffs on another $200 billion of Chinese goods is on Sept. 5, with the new measures possibly taking effect later that month.

The United States and Mexico agreed earlier this week to overhaul NAFTA, putting pressure on Canada to agree to new terms on auto trade and dispute settlement rules to remain part of the three-country pact.

On Wednesday, the U.S. currency was nearly flat at 111.25 yen following a gain of about 0.1 percent on Tuesday. It traded in a 20-bip range of 111.12 to 111.32 yen.

The euro was barely changed at $1.1694 after rising against the greenback during the previous three sessions, despite concerns over Italy where political uncertainty pushed up bond yields towards three-month highs.

The Australian dollar rose about 0.1 percent to $0.7344, after losing about 0.1 percent on Tuesday.

China’s offshore yuan was nearly flat at 6.8091 yuan per dollar, trading in a tight range for the third session in a row after the central bank announced fresh steps on Friday to stabilise the currency.[CNY/]

Source:reuters.com

The dollar inched higher on Wednesday after dipping to a four-week low overnight, but relief over a U.S-Mexico trade deal was dimmed by concerns that the China-U.S. trade war will drag on for some time.

The dollar index against a basket of six major currencies was barely changed at 94.720 as of 0315 GMT, after trading as low as 94.434 during the U.S. session, its lowest since July 31.

The greenback retraced its losses in U.S. trade after the U.S. consumer confidence index came in higher than expected, reaching its highest level since October 2000.

The deadline for public comment on U.S. President Donald Trump’s tariffs on another $200 billion of Chinese goods is on Sept. 5, with the new measures possibly taking effect later that month.

The United States and Mexico agreed earlier this week to overhaul NAFTA, putting pressure on Canada to agree to new terms on auto trade and dispute settlement rules to remain part of the three-country pact.

On Wednesday, the U.S. currency was nearly flat at 111.25 yen following a gain of about 0.1 percent on Tuesday. It traded in a 20-bip range of 111.12 to 111.32 yen.

The euro was barely changed at $1.1694 after rising against the greenback during the previous three sessions, despite concerns over Italy where political uncertainty pushed up bond yields towards three-month highs.

The Australian dollar rose about 0.1 percent to $0.7344, after losing about 0.1 percent on Tuesday.

China’s offshore yuan was nearly flat at 6.8091 yuan per dollar, trading in a tight range for the third session in a row after the central bank announced fresh steps on Friday to stabilise the currency.[CNY/]

Source:reuters.com

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