The US dollar bill slipped and fell against other major forex players in Thursday’s sessions. News about the renewed confidence for the US-China trade war has caused the greenback and its indices to fall today.
The US dollar index or DXY slipped by 0.07% or 0.07 points, reaching ranges between 98.86 and 98.97. Meanwhile, the US dollar index futures for December 19 declined by 0.4% or 0.036 points in sessions.
Hopes for a faster conclusion to the US-China trade war saga reignited after the US President commented yet again. According to President Donald Trump, an agreement between the Chinese government may come sooner than expectations.
Although the president did not further clarify his statement, it was enough to push the greenback on the edge in sessions. However, traders are noting that just on Tuesday President Donald Trump appeared to have a different stance.
The US president slammed Beijing on Tuesday at his speech at the General Assembly at the United Nations in NYC. Trump’s comments placed the US dollar bill in a very volatile position, going up and down in forex sessions.
The Buck’s Fall
The US dollar bill did not stand a chance against its trading pairs, losing against currencies such as the CAD, EUR, and JPY.
The USD to CAD exchange rate entered negative territories, slipping by 0.09% or 0.0012 points in sessions. The pair recorded levels from CA$1.3243 to CA$1.3270 in Thursday’s trading.
Meanwhile, the eurozone’s single currency also took advantage of the weakness of the US dollar bill. The EUR to USD trading pair gained 0.13% or 0.0014 points in sessions.
The EUR/USD pair currently trades for $1.0955, edging higher than its previous close of $1.0941. The pair did not go down below its previous close, hitting rates from $1.0942 to $1.0966 in sessions.
And lastly, the USD/JPY also contracted by 0.11% or 0.12 points in Thursday’s trading. The pair presently trades for ¥107.64 against its last close of ¥107.76.