Economic news

Dollar advances as trade tensions are likely to continue

The dollar was stable on Tuesday as fresh worries about the trade tariff dispute between the U.S. and China provided support to safe harbor currencies, although swings were moderate as traders wait for possible clues on Federal Reserve's monetary policy.

Photo: Reuters

The dollar index was firm at 97.01 .DXY, trading hot far off its top since Nov. 15.

The yen fluctuated at 113.43, with the U.S. currency sliding 0.12 percent against its Japanese rival.

The dollar climbed 0.07 percent against the Canadian dollar, which stayed at C$1.3258, as crude prices dipped.

The U.S. Fed is widely anticipated to increase interest rates by 25 basis points in December but investor focus is now shifting on the pace of the regulator’s monetary tightening path in 2019.

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