US dollar rises as trade tensions ease

New York: The US dollar rose as market sentiment was boosted by an easing of trade tensions between China and the US.

In late New York trading on Monday, the euro fell to $1.1772 from $1.1775 in the previous session, and the British pound was down to $1.3414 from $1.3482 in the previous session, Xinhua news agency reported.

The Australian dollar was up to $0.7569 from $0.7511.

The US dollar bought 111.10 Japanese yen, higher than 110.67 Japanese yen of the previous session. The US dollar rose to 0.9978 Swiss franc from 0.9977 Swiss franc, and it was down to 1.2810 Canadian dollars from 1.2878 Canadian dollars.

The dollar index, which measures the greenback against six major peers, increased 0.05 per cent to 93.682 in late trading.

China and the US issued a joint statement on Saturday on economic and trade consultations, vowing not to launch a trade war against each other.

The two sides agreed to take effective measures to substantially decrease the US trade deficit in goods with China.

US Treasury Secretary Steven Mnuchin said on Sunday that China and the US had reached a deal on a “very important” framework concerning their economic and trade ties, and the two sides had agreed to put a possible trade war on hold.