Forex – Dollar Hits Highs Of The Last One And A Half Weeks

The US Dollar index, reached 0.38%, the highest level since August 24.

Due to the U.S. President Donald Trump’s protectionist trade policies the investors remained in fears over the impact on global growth.

Concerns over an escalation of the trade row between the U.S. and China remained to the fore, as the administration of Donald Trump prepared to impose a fresh round of tariffs on Chinese imports, which would escalate the trade row with Beijing.

As Trump stated a week age he was ready to implement tariffs on an additional $200 billion worth of imports from China.

Meanwhile, trade talks with Canada remained at an impasse after stalling on Friday, with Trump threatening to leave Canada out of a new deal already negotiated with Mexico.

The dollar gained ground against the yen, with USD/JPY rising to 111.37.

The euro was weaker against the dollar, with EUR/USD down to 1.1560.

The pound was also pressured lower, with GBP/USD sliding 1.2818.

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