Dollar near 7-week low as markets look past trade woes, pound eyes EU summit

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TOKYO (Reuters) – The dollar hovered near a seven-week low against a basket of major currencies, in part as safe-haven demand for the U.S. currency ebbed on relief that tariffs the United States and China imposed on each other’s goods were set at lower levels than some had feared.

The British pound stepped back from two-month highs on caution over whether the European Union and UK can reach a Brexit deal at their ongoing summit while the New Zealand dollar jumped to three-week highs on Thursday after strong domestic GDP data.

The dollar index stood at 94.554 (DXY) (=USD), near its seven-week low of 94.308 touched on Tuesday as its more risk-sensitive rivals held firmer.

Read more at : https://www.investing.com/news/forex-news/dollar-near-7week-low-as-markets-look-past-trade-woes-pound-eyes-eu-summit-1616891

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