Dollar falls as U.S.-China trade tensions escalate
The Dollar fell on Friday morning, losing some of its gains from the day before.
Investor fears mounted as tensions escalated between the U.S. and China after U.S. President Donald Trump signaled in an interview the night before that he might sever ties with the second-largest economy.
The U.S. Dollar Index dipped by 0.34% to 103.145 at 11:00 PM ET (4:00AM GMT)
The U.S. currency fell against the Japanese Yen by 0.6% to ¥ 110.14 per Dollar. Japan on Thursday lifted the state of emergency in 39 out of 47 countries. However, Tokyo and Osaka still remained in a state of emergency.
The Chinese Yuan gained 0.05% to $7.0983 after China reported a 3.9% increase in factory activity, exceeding analysts’ forecast of a 1.5% increase.
Down Under, the Australian Dollar climbed by 0.59% to $0.5763 after the trade-sensitive currency reported its first loss since early April. The New Zealand Dollar carried on from Thursday’s 3-week low of $0.5958.
Meanwhile the British Pound Sterling gained 0.13% to $1.165 after it had reached a 5-week low of $1.2161 on Thursday. The U.K. remained steadfast that the Brexit transition will occur before the end of the year.