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U.S. Dollar Slips on Trade Uncertainty as Euro Rises

Investing.com - The U.S. dollar slipped on Friday as traders digested the impact of see-saw trade headlines on the stronger greenback.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.1% to 97.593 by 10:14 AM ET (14:14 GMT).

U.S. manufacturing activity on Thursday hit its lowest level in almost a decade in May, which could mean the U.S. economy is slowing down.

Trade tensions eased Friday after U.S. President Donald Trump said that a deal with China could include Huawei in some form. The administration has put the Chinese tech giant on a blacklist, causing a rippling effect among technology firms around the globe.

The greenback was flat against the safe-haven Japanese yen, with USD/JPY at 109.56. USD/CAD fell 0.2% to 1.3444.

The euro was higher after Dutch Labor Party Frans Timmermans won the European Elections in a surprising victory. EUR/USD gained 0.2% to 1.1197.

Meanwhile, the pound seemed unmoved by Prime Minister Thersea May announcing her resignation effective June 7. GBP/USD inched up 0.1% to 1.2667, while EUR/GBP was up 0.1% to 0.8838.

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