© Reuters. The dollar rose while the euro was lower on Friday.
Investing.com – The euro was lower on Friday while the dollar rose amid geopolitical concerns.
The euro remained under pressure despite . Populist parties Five-Star and League formed a government on Thursday and received the approval from the president. Meanwhile in Spain, Prime Minister Mariano Rajoy faces a vote of no-confidence, which is expected to pass on Friday.
inched down 0.04% to 1.1686 by 5:24 AM ET (9:24 AM GMT), hovering near a six-month low.
The , which measures the greenback’s strength against a basket of six major currencies, was up 0.09% to 94.03.
Investors were looking ahead to the data, often seen as an indicator of the health of the U.S. economy, at 8:30 AM ET (12:30 GMT). Traders will pay close attention to wage data and any clues that the Federal Reserve could increase interest rates.
The Fed raised rates in March and is expected to raise rates twice more, including at its next meeting in June.
Trade tensions continued after the on imported steel and aluminum from the EU, Canada and Mexico, prompting fears of a full-blown trade war. All three have said they plan to retaliate.
The dollar was higher against the safe-haven yen, with up 0.34% to 109.18.
The pound was slightly down, with falling 0.02% to 1.3293.
Elsewhere, the Australian dollar was lower, with down 0.36% at 0.7541, while slumped 0.21% to 0.6986.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
