Investing.com – The U.S. dollar neared a two-year high on Friday as the White House delayed auto tariffs, while trade tensions with China increased demand for safe-haven assets amid an equity selloff.
The , which measures the greenback’s strength against a basket of six major currencies, was up 0.1% to 97.787 as of 10:16 AM ET (14:16 GMT).
The White House confirmed that it is delaying tariffs on European cars by six months to allow for more time to negotiate a deal with the bloc.
Meanwhile, China’s state-run media took a surprisingly hostile stance on possible continued trade talks, saying it was meaningless” for officials to meet without the U.S. showing it is sincere, according to Taoran Notes, a WeChat blog run by the state-owned Economic Daily.
The tensions between the two largest economies in the world took a sour turn after the White House excluded Huawei and other Chinese companies from the U.S. market.
The dollar was down against the safe-haven yen, with falling 0.6% to 109.75.
Elsewhere, the euro slipped, with falling 0.1% to 1.1163 while was up 0.2% to 1.3483.
Sterling slumped for the sixth day in a row, with down 0.4% to 1.2744 as talks between the Labour and Conservative party stopped and the chances of a Brexit deal slimmed again.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Latest posts by investing.com (see all)
- Forex – U.S. Dollar Flat Amid Trade Tensions - May 20, 2019
- Zimbabwe to Give Dollar Boost as Currency Woes Turn Into Crisis - May 20, 2019
- Yuan Within Sight of Seven Poses Challenge for Both Trump and Xi - May 20, 2019