Forex – U.S. Dollar Slips on Trade Uncertainty as Euro Rises
- May 25, 2019
- Posted by: WAS Insurance
- Category: Forex, Investment
Investing.com – The U.S. dollar slipped on Friday as traders digested the impact of see-saw trade headlines on the stronger greenback.
The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.1% to 97.593 by 10:14 AM ET (14:14 GMT).
U.S. manufacturing activity on Thursday hit its lowest level in almost a decade in May, which could mean the U.S. economy is slowing down.
Trade tensions eased Friday after U.S. President Donald Trump said that a deal with China could include Huawei in some form. The administration has put the Chinese tech giant on a blacklist, causing a rippling effect among technology firms around the globe.
The euro was higher after Dutch Labor Party Frans Timmermans won the European Elections in a surprising victory. EUR/USD gained 0.2% to 1.1197.