Forex- Dollar Rises as Geopolitical Tensions Ease

© Reuters. The U.S. dollar was a touch higher on Friday. – The U.S. dollar rallied on Friday as geopolitical tensions eased.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.39% to 94.09 as of 11:13 AM ET (15:13 GMT).

On Friday North Korean leader Kim Jong Un said he was still open to talks after the White House said in a statement that it would be “inappropriate” to have a planned summit at this time. Trump and Kim Jong Un were set to meet in Singapore on June 12 to discuss possible denuclearization.

Trading is expected to be thin on Friday, as the markets close on Monday for the Memorial Day holiday.

The dollar seemed unmoved by disappointing economic data. in the U.S. fell 1.7% in April, compared to expectations of a 1.4% decrease while a separate report showed that the was revised down to 98.0 from 98.8.

The dollar was up against the safe haven yen, with rising 0.12% to 109.37.

Meanwhile sterling was slightly lower after data showed the annual was unrevised at 1.2%. fell 0.44% to 1.3319.

The euro was held back by economic and political worries in Europe.Spain’s main opposition group filed a no-confidence motion against Prime Minister Mariano Rajoy after a judge ruled against the governing Popular Party for corruption charges. The was down 0.45% to 1.1666.

Elsewhere, the Australian dollar was lower, with down 0.22% to 0.7559 while fell 0.04% to 0.6922.

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