Dollar Rises Thanks to Investing.com's Business Fears and Pound Drop

© Reuters.

Investing.com – The dollar climbed to a two-week high against a basket of currencies on Tuesday, as the trade war between the two countries fears an escalation of the trade war, while the pound sterling weakened after the warning of US President Donald Trump according to which the agreement on Brexit would be a bad thing UNITED KINGDOM.

The, which measures the strength of the bank note against a basket of six major currencies, rose 0.15% to 97.12 at 04.37 GMT (09.37 GMT), its highest since November 15.

Demand for the dollar was supported by a resurgence of trade fears as a result of, and possibly extended to all Chinese imports.

In an interview with the Wall Street Journal, Trump said it was "very unlikely" that he would accept an offer from Chinese President Xi Jinping to avoid new tariffs that will come into effect in January.

Investors had hoped that the planned talks between Trump and his Chinese counterpart at this week's G20 summit could lead to a ceasefire in the trade war.

The pound was lower, registering a 0.6% drop to 1.2753 after the US president said that British Prime Minister Theresa May's agreement on the Brexit seemed to be a "good plan for the future". 39, which would prevent the United Kingdom from trading with the United States.

Trump's comments are likely to weaken May's hand at a time when she is in parliament.

The pound sterling was also down against the euro, with an increase of 0.35% to 0.8873.

The euro is held against the dollar, with the latest at 1.1323.

The dollar has changed little in relation to the yen, with a change of hands to 113.62.

Investors were turning to Federal Reserve Chairman Jerome Powell's speech and minutes of Thursday's November Fed meeting to get new insights into the future course of the Fed's rates. ;interest.