FOREX-Dollar weakens as U.S. tariffs kick in; U.S. jobs data eyed

referring to The latest salvo in a trade conflict between the world's biggest economic powers was fired on Friday when U.S. tariffs on $34 billion worth of Chinese goods came into effect . The immediate response among major currencies on Friday was limited. The dollar index against a basket of six major currencies fell 0.2 percent to an intraday low of 94.195 after weakening to 94.177 the previous day, its lowest since June 26. The euro is enjoying a boost from strong German industrial orders and signs Washington has softened its trade rhetoric towards European Union automakers. The Japanese yen, which usually acts as a safe-haven currency during times of economic and political uncertainty, traded flat against the dollar.

FOREX-Dollar falls as U.S. tariffs kick in; U.S. jobs data eyed

ADVERTISEMENT"The first batch of tariffs is a milestone in the trade war but a very well-telegraphed one. That helped the euro rise to $1.1727, its strongest since June 26. The Australian dollar, a liquid proxy to China-related trades, edged up 0.1 percent to $0.7405, suggesting the region's markets were greeting the tariffs calmly. Against the safe-haven yen, the dollar inched down 0.1 percent to 110.560 yen and the Chinese yuan remained weaker against the dollar. ADVERTISEMENTInvestors wanted to know whether the tariffs were a continuation of tit-for-tat measures or an escalation between the two countries.

FOREX-Dollar steady after U.S. tariffs kick in; China's response, U.S. jobs data eyed

As it stated in But the immediate response among major currencies was limited. ADVERTISEMENTThe dollar index against at basket of six major currencies was mostly steady at 94.388 after slipping to 94.177, its lowest since June 26, the previous day. The euro was steady at $1.1694 after rising 0.3 percent overnight, when it touched $1.1721, its strongest since June 26. ADVERTISEMENTThe U.S. Labor Department is expected to report nonfarm payrolls increased 195,000 in June after surging by 223,000 in May. China's yuan was 0.2 percent weaker at 6.6506 per dollar but still some distance from an 11-month low of 6.7204 set on Tuesday.

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