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COVERFOREXNEWSLETTER

Dollar Tumbles by 0.1% Against Rivals

Dollar

The United States of America Dollar, on Monday June 11, traded sluggish against basket of currencies. Consequently, the dollar index , which measures the greenback against a basket of six major currencies, was down 0.1 percent at 93.452.

Tightening policy by a notch just one day apart, the world’s top two central banks will hope to signal confidence in global economic growth, despite risks of a trade war, currency swings and political turbulence.

U.S. President Donald Trump arrived in Singapore on Sundayfor a historic summit with North Korean leader Kim Jong Un that could lay the groundwork for ending a nuclear stand-off between the old foes and the transformation of the isolated Asian nation.

The United States and Canada swung sharply towards a diplomatic and trade crisis on Sunday as top White House advisers lashed out at Canadian Prime Minister Justin Trudeau a day after Trump called him “very dishonest and weak.”

Chinese President Xi Jinping, whose country is locked in a high-stakes trade dispute with the United States, on Sunday said China rejects “selfish, shortsighted” trade policies, and called
for building an open global economy.

The Mexican peso MXN=D2 lost 0.2 percent to 20.331 MXN=D2, not far from its 16-month low of 20.6505 touched on Friday.

 

 

 

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