Tensions In Talks Cause Dollar And Pound To Dip – 8 October, 2019

Rising trade tensions caused the dollar to take a dip while a greater unlikelihood of a positive Brexit deal between Britain and the European Union caused sterling to tumble to a one month low. With less than a month before the scheduled divorce date, the pound fell to its lowest since the beginning of September before stabilizing to $1.2217. U.S. visa restrictions on Chinese officials and firms due to the mistreatment of Muslim minorities caused the dollar to give up some gains. The yen rose against the dollar to 107.00 yen, while the dollar index last stood at 99.126 against a basket of major currencies. Elsewhere, the euro stabilized to $1.0957, slightly higher than the 2 1/2 year low hit last week. The Australian dollar was at $0.6731, and the kiwi was at $0.6304.