The dollar is down against the pound this morning, possibly due to growing US-China trade tensions and in anticipation of a speech from Federal Reserve Chairman Jerome Powell, which will take place later today. The greenback remains strong against the euro, however.
On Friday, the dollar was strong against most major currencies as the White House confirmed that it will be delaying tariffs on European cars by six months, to allow more time for negotiations with the Eurozone.
It also made gains against both the euro and the pound, due to concerns about the outcome of the European Elections and the collapse of cross-party Brexit talks.
In the latest US-China trade war news, Google has restricted Huawei’s use of Android due to the US blacklisting the Chinese company. Huawei is facing several criminal charges filed by US authorities over concerns about security, marking an escalation in tensions between the world’s two largest economies.
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