Dollar Falls, Euro Rises Despite Ongoing Trade War Concerns

Singapore, 27 Mar (ONA) —- The US dollar index, which measures the US currency against six rivals, was at 104.29, down 0.33% on the day. The index touched a three-week high in the previous session.

In turn, the euro bounced off a three-week low touched earlier today after US President Donald Trump slapped a 25% tariff on imported cars and light trucks starting next week, even as the prospect of an all-out trade war dimmed risk sentiment.

The euro 0.3% higher at $1.078625 after touching a three-week low of $1.0733 in early trading. The yen was a shade stronger at 150.17 per dollar.

The Mexican peso weakened 0.5% to 20.2054 per US dollar in Asian hours. The Canadian dollar was flat at weaker at 1.4261 per US dollar.

The Australian dollar was 0.21% higher at $0.6311, while the New Zealand dollar rose 0.23% to $0.5742.

Sterling strengthened 0.26% to $1.2919, recovering from the previous session's 0.45%.

—- Ends/Khalid