The US dollar rose to a 3-week high today, driven by a recovery in US stocks and US willingness to sit down at the negotiating table with China to find a solution to the recent trade dispute, prompting markets to ease tensions that could arise from a trade war no one will win in it.
China has imposed tariffs on US imports including soybeans, aircraft and cars, in response to the US announcement of a list of 1,300 Chinese products covered by the new tariff.
The dollar index rose against a basket of currencies during Thursday trading to reach its highest level since mid-March at 90.14, and the USDJPY rose against the Japanese yen to its highest level since March 13 at 107.14.
Markets are awaiting tomorrow's US Nonfarm Payrolls report, which will play a role in supporting monetary tightening this year.
