The United States of America dollar, on Friday,June 1, edged higher after posting its biggest monthly rise since November 2016 in May against a basket of rivals .DXY. It headed back towards a 6-1/2 month high of 95.03 hit earlier this week.
The dollar index , which measures the greenback against a basket of six major currencies, was up 0.2 percent at 94.154.
Risk appetite was on the back foot after the Donald Trump administration slapped tariffs on steel and aluminum imports from the EU, Mexico and Canada, raising risks of a full blown trade war.
Canada and Mexico retaliated against the United State’s decision while the European Union had its own reprisals ready to go..
The Canadian dollar stood at C$1.2936 to the U.S. dollar CAD=D4, after falling 0.65 percent the previous day.
The Mexican peso MXN=D2 hit a 15-month low of 20.050 to the dollar on Thursday and last stood at 19.85 per dollar,Reuters reports.
A heavy slate of data on Friday is also expected to keep investors on the sidelines. The US jobs report for May is expected to show almost 190,000 jobs added, keeping the Fed on track to raise rates later this month. Flash PMIs in euro zone, United States and Britain are also due.
