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John Wang
in
Forex
May 4 21:08

US dollar gains in global trading

The threat of the new trade war drives the investors to safe haven.
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US dollar continues to grow in trading against major currencies across the world. Traders are anxious about the possibility of the new trade war between China and the United States.
The international tensions came back after US Secretary of State Mike Pompeo stated, that he has some “significant evidence” that the coronavirus escaped from a laboratory in Wuhan. President Trump threatened to introduce new tariffs. Both claimed that China is fully responsible for the pandemic. Beijing rejects the accusations.
 The euro lost 0.4% and stood at US$1.0932 in trading against the US dollar. British pound also lost 0.4% and stood at US$1.2442. 
US dollar also made gains in trading against the Scandinavian currencies, known for their vulnerability to crises. The Swedish crown lost 0.6% and ended up at 9.8995. The Norwegian crown lost 0.8% and reached 10.3975.
The biggest change touched the Chinese RMB. The yuan dropped to the lowest level in six weeks in trading against the dollar, reaching a 7.1555 mark. According to the analysts, further drops might lead the currency down to the 7.16151 mark.