The dollar index rose 0.08% against a basket of major rivals today to 99.608, but remains 8% lower since the start of the year as investors seek alternatives to US assets, impacted by the trade wars.
US Economy Faces Pressure Despite Optimism
Recent data showed US durable goods orders fell in April by the fastest pace in six months, as the trade war starts to impact the economy and corporations.
ING Bank’s analysts wrote in a memo that more positive surprises in data are needed to restore confidence in US growth, with deficit worries persisting for the time being.
Additional Support from Trump’s Decisions
The dollar was further boosted by US President Donald Trump’s decision to delay EU tariffs.
Reuters’ sources said European officials asked major corporations and CEOs in the EU to provide details on their US investments as…
