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Euro Holds Gains vs Dollar Hit by Trade Tariffs and Weak Data


Tuesday, 3 December 2019 15:54 WIB

EuroEUR/USD


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The euro and Japanese yen on Tuesday largely held gains made against the dollar this week after disappointing manufacturing data and signs of new fronts in U.S. President Donald Trump's trade war rattled greenback investors.

Moves in currency markets were broadly contained, however, with volatility remaining low and investors not appearing to take much fright at news of U.S. tariffs on imports of metals from Argentina and Brazil and the threat of more tariffs on a range of European goods.

The euro has recovered from a three-week low against the dollar of $1.0981 on Friday, moving as high as $1.1091 . On Tuesday it was flat on the day at $1.1076.

The yen also held most of its gains, a reversal from a six-month low plumbed before Trump’s tariff announcements. The dollar last traded at 109.08 yen, down from Monday’s 109.73.

Source : Reuters


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