Dollar Edges Up Ahead Of Potentially Market-Moving Trump Trade Speech
Tuesday, 12 November 2019 16:50 WIB | CURRENCIES |DOLLAR

The dollar was stronger against the yen and Swiss franc on Tuesday as traders grew optimistic ahead of a speech by U.S. President Donald Trump, during which he is expected to again postpone imposing tariffs on European Union autos.

Trump™s speech to the Economic Club of New York is expected to be market-moving as he is scheduled to discuss U.S. trade policy. Currency traders will also be listening for hints about the Trump administration™s long-running trade war with China, and any progress towards the œphase one trade deal.

Versus a basket of currencies, the global dollar index .DXY rose 0.1%.

The dollar strengthened against safe haven currencies: it was up 0.2% against both the Japanese yen JPY=EBS and the Swiss franc CHF=EBS in early London trading.

The euro was down by 0.1% against the dollar at $1.10225 EUR=EBS, close to the four-week low of $1.10165 it fell to last week.

The New Zealand dollar was down 0.5% at 0.6335 versus the U.S. dollar, only slightly recovered from the low of $0.6323 it reached last week NZD=D3 after a central bank survey showed the country's near-term inflation expectations dropped, increasing traders' expectations of a rate cut this week.

Source : Reuters

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