© Reuters. The dollar was lower on Monday.
Investing.com – The U.S. dollar was lower against other currencies on Monday, as trade tensions outweighed expectations for a Federal Reserve rate hike in September.
The , which measures the greenback’s strength against a basket of six major currencies, fell 0.12% to 95.27 as of 5:12 AM ET (9:12 GMT).
The greenback was down despite Friday’s increasing expectations of a in at its next meeting September 25-26.
Meanwhile trade tensions with China continued, as U.S. President Donald Trump warned he would impose tariffs on $267 billion worth of Chinese imports, on top of an earlier promise of tariffs on $200 billion worth of Chinese goods.
China’s foreign ministry said on Monday that it would .
“If the U.S. side obstinately clings to its course and takes any new tariff measures against China, then the Chinese side will inevitably take countermeasures to resolutely protect our legitimate rights,” Foreign Ministry spokesman Geng Shuang said.
The dollar rose against the safe-haven yen, with increasing 0.06% to 111.09. In times of uncertainty, investors tend to invest in the Japanese yen, which is considered a safe asset during periods of risk aversion.
The lower dollar pushed the euro and sterling higher. rose 0.18% to 1.1573 and increased 0.23% to 1.2945.
Meanwhile the Australian dollar was lower, with rising 0.28% to 0.7125 while was down 0.02% to 0.6531. The Swedish crown rose after , despite a hung parliment. fell 0.13% to 9.0464.
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