collected by :Irax John
As it stated in Investing.com -Investing.com – The dollar fell in Asia on Monday with concerns over comments made at the weekend at a meeting of finance ministers from leading economies that highlighted a lack of cohesion on global trade policies.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, eased 0.09% to 100.05.
Finance ministers from twenty of the world’s biggest economies met and warned against competitive devaluations, but failed to agree on keeping global trade free and open.
The People’s Bank of China set the yuan mid-point at 6.8998 against the dollar, USD/CNY, on Monday, compared with the previous close of 6.9030.
But the U.S. central bank did not flag any plan to speed up the pace of monetary tightening, with Yellen reiterating that the pace of rate hikes would be gradual.
As it stated in Dollar index below 100 after G20 take on tradeForex 1 hour ago (Mar 20, 2017 04:10AM ET)Investing.com – The dollar was near six-week lows Monday after G20 finance ministers’ meeting over the weekend.
Dollar index below 100 after G20 take on tradeRelated Articles
The was near six-week highs above $1.07 as focus turns to French presidential elections next month.
Under U.S. pressure, the G20 dropped a reference to “resist all forms of protectionism” in their communique.
The dollar fell to the the 112 level against the , with the Japanese markets closed for a holiday.
Dollar falls for fourth day after G20 trade message
As it stated in For Reuters Live Markets blog on European and UK stock markets see reuters://realtime/verb=Open/url=http://emea1.apps.cp.extranet.thomsonreuters.biz/cms/?pageId=livemarkets(Writing by Patrick Graham; Editing by Andrew Heavens)
“In addition, markets are getting a sense that the European Central Bank may be moving slowly to a less accommodative monetary stance.”
LONDON The dollar fell for the fourth day running against the basket of currencies used to measure its broader strength on Monday, as reaction to a G20 summit dominated by the Trump administration’s protectionist bent extended last week’s sales.
EUR=EBSThe logic so far on the Trump administration’s protectionist leanings on trade are that, by imposing a new round of tariffs and taxation on imports, it would broadly support the dollar.
For currency markets, the meetings of Group of 20 financial leaders added up to a renewed expression of concern about the United States’ global trade relations and by implication the Trump White House’s concern over the strong dollar.