Dollar Little Changed in Subdued, Holiday-Thinned Trade
Monday, 2 September 2019 16:01 WIB | CURRENCIES |DOLLAR

The U.S. dollar was little changed against the other major currencies on Monday as concerns over the latest escalation in the U.S. - China trade war kept investors wary and volumes remained thin ahead of a U.S. market holiday.

The U.S. dollar index against a basket of six major currencies was almost unchanged at 98.83 by 03:35 AM ET (07:35 GMT).

The U.S. slapped 15% tariffs on a variety of Chinese goods on Sunday - including footwear, smart watches and flat-panel televisions - while China imposed new duties on U.S. crude oil in the latest escalation in the protracted trade war between the world™s two largest economies.

Although U.S. President Donald Trump has said the two countries will hold talks in September, there are doubts any such talks would lead to a breakthrough.

Foreign exchange trading remained subdued with U.S. financial markets staying closed for the Labor Day holiday.

Against the yen, the dollar was flat at 106.25 yen.

The euro was a touch lower, slipping to 1.0979, within striking distance of Friday™s two-year trough of 1.0963.

The single currency has been pressured lower by expectations that the European Central Bank will cut interest rates at its next monetary policy meeting on Sept. 12.

The British pound was also a shade lower, trading at 1.2140.

Source : Investing.com

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