Greenback Almost At Two Year High On Trade Concerns – 29 May, 2019

Ongoing fears of a U.S.-China trade war boosted the dollar against key rivals as investors looked towards the safe-haven currency. Concerns over slower economic growth as the worlds two biggest economies show no signs of backing down boosted the dollar against six major currencies to 98.128, just under the two year high of 98.371 it reached last week, with the dollar index rising above 2% so far this year. An ongoing investigation between the European Commission and the Italian government about suspicious legal activity cause the euro to jump to $1.1138. The Australian dollar gained 0.15% to $0.6926. Against the yen, the dollar was steady at 109.59 yen, rising from the three month low of 109.02 yen it hit two weeks ago.