Dollar Steady Despite New Trade Concerns – 26 November, 2018

U.S.-China trade war concerns helped support safe haven currencies with the dollar holding gains this week, but didn’t advance much further with investors waiting for information about a policy direction from the Federal Reserve.  President Trumps said in an interview that he plans on going ahead with raising tariffs on Chinese imports from 10 percent to 25 percent. Against a basket of six major currencies, the dollar index was steady at 97.06, just under the high it hit on November 15. Against the yen, the dollar has gained 1.1 percent over the last five trading sessions, but lost 0.12 percent versus the Japanese currency with the yen last trading at 113.43. The Australian dollar dipped 0.1 percent to $0.7215. The euro remained unchanged against the greenback at $1.1332.