Dollar Inches Higher on President Xi Jinping’s Remarks – 10 April, 2018

Against a basket of six major currencies, the dollar last traded at 89.588, just above a two week low of 89.544, after Chinese President Xi Jinping promised to cut import tariffs and open the country’s economy. The promise came in the midst of tension between the U.S. and China and their trade dispute. Global oil prices rose over 3 percent on the Presidents comments. The dollar eased 0.1 percent against the yen to 107.12 yen, a currency that is typically a safe haven and attracts demands during times of economic uncertainty.