© Reuters. Dollar dips as trade fears weigh on market sentiment
Investing.com – The dollar edged lower against a currency basket on Thursday as concerns over the U.S. – China trade war and recent turmoil in emerging markets weighed on market sentiment.
The , which measures the greenback’s strength against a basket of six major currencies, was at 95.04 by 09:46 AM ET (13:46 GMT).
The dollar was pressured lower by gains in the pound, which remained supported amid hopes for progress on following reports Wednesday that both the UK and German governments have abandoned key demands.
Sterling continued to remain supported even after Germany denied Thursday that its position on Brexit had changed, with up 0.34% to 1.2947.
Investors remained focused on the amid fears that an escalation could be imminent.
U.S. President Donald Trump could slap tariffs on an additional $200 billion worth of imports from China when a public consultation period ends later Thursday.
China has warned that it will retaliate if the U.S. imposes fresh tariffs on its goods.
Investors were also eyeing developments in a second day of talks between aimed at revamping the North American Free Trade Agreement.
The dollar slid lower against the yen, with losing 0.36% to trade at 111.13.
The euro edged higher against the U.S. currency, with inching up 0.09% to 1.1639.
In emerging markets, Turkey’s and Argentina’s pushed higher against the U.S. currency after recent heavy declines.
have been hard hit by concerns that U.S. policy tightening will pressure countries that have borrowed heavily in dollars in recent years and fears that their export dependent economies could be hit by trade disputes.
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