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Felicia Tan
in
Forex
July 15 16:18

USD is rising due to geopolitics and the spread of the virus

Old problems have worsened the mood of investors. The U.S. rejects China's claims in the South China Sea, raising tensions.
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On Tuesday, the dollar rose slightly in narrow ranges against most currencies as renewed fears of diplomatic tensions between the United States and China and growing cases of coronavirus infection reduced appetite for risk.
Euro continued to grow against USD and GBP as investors are waiting for data on German investor sentiment to assess the pace of Europe's recovery from the health crisis.
Currency trading volumes declined as further spread of infections led to new restrictions on business activity in some areas.
On Tuesday, the dollar rate was 107.26 yen after rising by 0.4% in the previous session.
The dollar traded at the level of CHF 0.9418 after three consecutive sessions of insignificant profit.
The Euro was quoted at US$1.1346, remaining below its monthly high on Monday. The single currency traded at 90.40 GBp, maintaining an increase of 0.9% over the previous session.
The United States and China are engaged in diplomatic battles on several fronts, which may lead to a shock in financial markets.
The administration of U.S. President Donald Trump plans to withdraw from the 2013 audit agreement with China in the near future, a senior official of the U.S. State Department told Reuters.