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Dollar Gains vs Yuan as PBoC Chief Hints at Depreciation


Friday, 7 June 2019 15:18 WIB

DOLLARCurrency Euro Yuan


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The dollar was little changed against most major currencies in early trading in Europe Friday but rose against the Chinese yuan after China's central bank governor hinted that he may allow the currency to depreciate.

Trading has settled into generally tight ranges ahead of the release of the U.S. labor market report at 8:30 AM ET (12:30 GMT), which will provide a clear signal of how much the U.S. economy is cooling under pressure from widening tariff disputes with China and Mexico.

At 02:20 AM ET (06:20 GMT), the euro was at $1.1267, falling slightly after the report of a surprising drop in German industrial production in April. French industrial production data and Italian retail sales for April are due later in the morning.

The dollar index, which measures the greenback against a basket of six major currencies, was effectively unchanged at 97.012.

Source : Investing.com


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