The U.S. dollar dropped against other major currencies on Monday as investors were digesting the trade tensions between China and the United States as well as the latest comments from European Central Bank President Mario Draghi.
U.S. Treasury Secretary Steven Mnuchin said on Sunday he does not expect a trade war between the United States and China to take place, according to media reports.
Investors have been on edge last week amid escalating trade tensions between the world's two largest economies.
U.S. President Donald Trump said Thursday he had asked the U.S. Trade Representative to consider slapping additional tariffs on 100 billion U.S. dollars' worth of Chinese imports, ratcheting up trade tensions and plunging economic growth into uncertainty.
In response, Chinese Ministry of Commerce said Friday that China will fight "at any cost" and take "comprehensive countermeasures" if the United States continues its unilateral, protectionist practices.
Moreover, the greenback went down over 0.3 percent against the euro in late trading, after European Central Bank Mario Draghi said on Monday that a slide in stock markets this year has not materially impacted euro zone financial conditions, suggesting that policymakers in Eurozone remain calm about recent market volatility.
The dollar index, which measures the greenback against six major peers, decreased 0.31 percent at 89.826 in late trading.
In late New York trading, the euro rose to 1.2322 dollars from 1.2285 dollars in the previous session, and the British pound increased to 1.4132 dollars from 1.4085 U.S. dollars in the previous session. The Australian dollar was up to 0.7703 dollar from 0.7670 dollar.
The U.S. dollar bought 106.77 Japanese yen, lower than 106.87 Japanese yen of the previous session. The U.S. dollar was down to 0.9563 Swiss franc from 0.9587 Swiss franc, and it fell to 1.2704 Canadian dollars from 1.2778 Canadian dollars.
U.S. Treasury Secretary Steven Mnuchin said on Sunday he does not expect a trade war between the United States and China to take place, according to media reports.
Investors have been on edge last week amid escalating trade tensions between the world's two largest economies.
U.S. President Donald Trump said Thursday he had asked the U.S. Trade Representative to consider slapping additional tariffs on 100 billion U.S. dollars' worth of Chinese imports, ratcheting up trade tensions and plunging economic growth into uncertainty.
In response, Chinese Ministry of Commerce said Friday that China will fight "at any cost" and take "comprehensive countermeasures" if the United States continues its unilateral, protectionist practices.
Moreover, the greenback went down over 0.3 percent against the euro in late trading, after European Central Bank Mario Draghi said on Monday that a slide in stock markets this year has not materially impacted euro zone financial conditions, suggesting that policymakers in Eurozone remain calm about recent market volatility.
The dollar index, which measures the greenback against six major peers, decreased 0.31 percent at 89.826 in late trading.
In late New York trading, the euro rose to 1.2322 dollars from 1.2285 dollars in the previous session, and the British pound increased to 1.4132 dollars from 1.4085 U.S. dollars in the previous session. The Australian dollar was up to 0.7703 dollar from 0.7670 dollar.
The U.S. dollar bought 106.77 Japanese yen, lower than 106.87 Japanese yen of the previous session. The U.S. dollar was down to 0.9563 Swiss franc from 0.9587 Swiss franc, and it fell to 1.2704 Canadian dollars from 1.2778 Canadian dollars.
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