Washington (AWP/AFP) – The dollar remains stable on Monday, awaiting developments on the trade warfront launched by Donald Trump, the trades also digesting new American economic data.
Around 5:05 p.m. GMT, the greenback released 0.09% compared to the single currency, to 1.1307 dollars for one euro, and abandoned 0.03% against the book, to 1.3276 dollars.
The dollar index, which compares the American currency to a basket of other large currencies, lost 0.10%, at 99.93 points.
“The US dollar begins the week in weak ranges” because of “uncertainty concerning the trade policy of the United States”, summarize analysts of Monex USA, in a note.
Last week, the dollar had taken over forces thanks to “the prospect of a stretch of trade tensions”, especially between Beijing and Washington, explains Eric Theoret, from Scotiabank to AFP.
For the time being, no agreement has been made, but negotiations were reported, in particular with Japan or the European Union, adds the analyst.
During an interview broadcast on American television on Sunday, Donald Trump also defended his trade war, saying that he “managed to lower prices”.
The American president said that the United States was in “a transition period” and that the country will later experience “the biggest economic boom in history” thanks to its political choices.
On the bullish side, the “Buck” – one of the nicknames of the American currency – was supported by the publication of the investigation of the professional federation ISM, which showed that activity in the services has progressed in April in the United States, above expectations.
The index measuring this activity amounted to 51.6% in April, against 50.8% the previous month, according to the investigation of the ISM professional federation.
Analysts awaited him lower, at 50.4%, according to consensus compiled by briefing.com.
“We are skeptical of a dollar rise (…) whatever the evolution of the American data,” comments Brown Brothers Harriman analysts, however.
Bover also awaits the new meeting of the American Central Bank (Fed).
Despite the repeated calls by Donald Trump for a drop in interest rates, the outcome of this meeting is hardly in doubt in the vast majority of finance players.
The monetary institution should leave its rates at the level which has been theirs since December, in a range between 4.25% and 4.50%.
Cours de lundi Cours de vendredi 17H05 GMT 21H00 GMT EUR/USD 1,1307 1,1297 EUR/JPY 163,93 163,78 EUR/CHF 0,9312 0,9340 EUR/GBP 0,8515 0,8410 USD/JPY 144,09 144,92 USD/CHF 0,8235 0,8265 GBP/USD 1,3276 1,3270
AFP/Rp
