The US dollar bill fell against other major currencies yesterday after Donald Trump’s comment revived trade war hopes.
The US dollar index, or DXY, slipped by 0.06%, or 0.06 points, ranging between 98.86 and 99.13 in sessions. And the US dollar futures for December 19 slipped harder, declining 0.12%, or 0.119 points, in Thursday’s trading.
Meanwhile, the EUR USD exchange rate gained 0.13%, or 0.0014 points, yesterday. The pair traded around $1.0942 and $1.0966 in sessions.
The US dollar bill also didn’t stand against the Japanese yen in forex sessions. The USD JPY trading pair contracted 0.11%, or 0.12 points, in sessions, hitting ranges from $107.61 to $107.81.
The USD CAD exchange rate barely slipped by 0.09% or 0.0012 points. The pair extended its rally from CA$1.3243 to CA$1.3270 in sessions.
And the GBP USD pair traded flat, only moving down by 0.02%, or 0.0002 points, in sessions. The GBP USD exchange rate saw ranges from $1.2303 to $1.2381 on Thursday’s trading.
The recent comments from the US President Donald Trump caused the US dollar bill to fall and rise in sessions. As Trump gives indecisive comments about the trade war, the bulls and bears have fought through the recent volatile runs.
The cause for yesterday’s drop was the US president’s comment about an agreement that will come sooner. Trump has been known for firing shots against China, slamming its government in several speeches and occasions.
Just this week too, the US president called Beijing as a currency manipulator at his speech during the General Assembly at the United Nations in NYC.
Another factor that added to the fall of the greenback is the retainment of the US Gross domestic product. Yesterday, the data was released to the general public.
The US GBP remained at 2.0%, meeting the forecasts of the analyst. Despite meeting expectations, some traders weren’t impressed with the outcome.