Forex

Dollar extends gains on haven demand

2019-02-11 17:53:58 GMT (Economies.com)

US dollar rose today as demand on treasury bills boosted demand for the greenback amid market uncertainty over the US-China trade dispute. 

 

US Treasury Secretary Steven Mnuchin is leading a trade delegation to Beijing to discuss an agreement to solve the dispute between both countries. 

 

President Donald Trump said he'll meet his Chinese counterpart Xi Jinping in March, after the truce deadline has ended, which would trigger new tariffs if no deal was reached by then. 

 

Otherwise, more Federal Reserve officials hinted at a "patience" outlook for rate hikes amid current economic conditions, putting a lid on dollar's momentum. 

 

As of 17:18 GMT, the dollar index rose 0.4% to 97.01, with an intraday high at 97.08, and a low at 96.6. 

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