Dollar Manages To Stay Steady After Trade Talks – 23 August, 2018

Two days of trade talks between the worlds two biggest economies, the U.S. and China, ended with new matching tariffs kicking in on $16 billion worth of imports between the two countries. The dollar, however, managed to hold onto recent gains and continues to benefit as a safe haven currency. The dollar index remained flat trading at 95.656. The yen was down 0.1 percent to 111.39 yen after the dollar gained 0.7 percent against it when the Fed’s minutes reveal possible rate increases. Sterling fell an additional 0.1 percent, adding to this weeks 0.7 percent loss to $1.2800. Due to political troubles with the Australian Prime Minister, their dollar fell an additional 0.1 percent and added more weight to the previous days drop of 1.7 percent.