The U.S. dollar moved lower against other major currencies on Monday, as investors digested signs of rising trade tensions following the Trump administration’s decision last week to implement import tariffs and anticipated the meeting of leaders of the Group of Seven nations later in the week.
What are currencies doing?
The ICE U.S. Dollar Index DXY, -0.17% slipped 0.2% to 94.009, pulling back after a slight gain logged on Friday. The WSJ Dollar Index BUXX, -0.16% which measures the U.S. currency against a broader basket of rivals, fell 0.2% to 87.08.
The euro EURUSD, +0.3259% jumped to $1.1699 from $1.1659 late Friday in New York, while the British pound GBPUSD, -0.2172% slipped to $1.3327 from $1.3350 on Friday, giving up previous gains.
Versus the Japanese yen USDJPY, +0.16% the greenback strengthened modestly to ¥109.73, compared with ¥109.52 late Friday.
The risk-sensitive Australian dollar AUDUSD, +1.0966% was one of the best performers on Monday, rallying to $0.7652 from $0.7569 on Friday after better-than-expected retail sales data. New Zealand’s dollar NZDUSD, +0.7879% was also stronger against its U.S. rival, rising to $0.7040, compared with $0.6981 late Friday in New York.