Global ForeignExchange Market
THE dollar appreciated by 0.12% to 95.5 over the week due to safe haven flows following renewed US-China trade tensions after the Chinese government announced additional tariffs of 25% on US$16bil worth of US imports ranging from fuel to medical equipment which are scheduled to take effect Aug 23. Furthermore, the rising geopolitical tension as the United States is set to impose new sanctions on Russia, coupled with the better-than-expected initial jobless claims that fell to 213,000 as of Aug 4 from 218,000 in the previous week have also further fuelled the dollar’s rebound.
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