US Dollar At 3-Week Low Level

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In Asia Pacific money market trading until today afternoon, the general US dollar or greenback is still moving very lightly when the market has seen that the US dollar still seems to want to continue weakening.

As we know that in yesterday’s trading, the greenback condition was under pressure from some other major currencies in the world, thus causing EURUSD to close higher at 1.1797, GBPUSD closed up at 1.3422, AUDUSD closed down at 0.7618 and USDJPY closed down at 109.68.

And for the time being this morning, EURUSD is moving at the level of 1.1803, GBPUSD is moving at the level of 1.3416, AUDUSD at the level of 0.7621 and the yen at the level of 109.81.

Earlier in trading yesterday, the US dollar index traded briefly as a form of continued profit taking after last month to reach its best level in six months after tighter US employment data and steered the Fed rate rise could be 4 times in the year this.

Some of the world’s economists surveyed by Reuters have expressed their opinion that the European Union’s central bank could end the $ 2.55 trillion ESM economic aid package next week as some eurozone growth and inflation data have begun to improve. Another thing that the political situation in Italy that had heated up with the threat of re-election, was already starting to cool, so that the split EU group will not happen again.

This condition does make the euro away from the lowest level of 10 months, as well as there are supporters of the problem of trade war called by the US.

The issue of trade war continues to press the dollar index after all US allied countries in the G7 are threatening President Trump to immediately postpone tariff policy which they think could affect the good relationships that have been established so far. Concerns arise if the G7 summit this weekend could lead to long-term pressure on President Trump, so the dollar index is still heavy to fight the world’s major currencies.

The leaders’ G7 summit, to be held in Quebec Canada, will take place over 2 days later this week. Trump threatened to be isolated by other participants so that it can change the map of world economic power.

North Korea’s denuclearization side is also expected to change no plans this weekend, so the wall of the dollar index is also still there in the absence of US economic data to be released later this week.

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