US dollar grows amidst anxiety
US dollar made gains in trading against most of the Asian currencies on Monday 25. The markets were impacted by new US-China tensions, sparked by clashes in Hong Kong.
Kiwi, Aussie and yuan all tumbled down. Traders fled to safe-haven investments.
The British pound was losing ground as well. The politics in London were rocked once again, when the MPs demanded the resignation of Dominic Cummings - Boris Johnson’s advisor. Cummings is said to have broken the travel limitations.
US Dollar was trading at US$1.0895 against the euro in Asian trading. It also stood at 0.9719 - both results are close to the weekly highest.
The new wave of anxiety on the markets is centered around Chinese politics - specifically, the latest security laws, which will, supposedly, severely limit the autonomy of Hong Kong. Protests and clashes with the police came back soon after.
The tensions became even more heated because of the US position. President Trump warned about a “very strong” retaliation. The Commerce Department already blacklisted 33 companies and organizations from China.