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U.S. dollar drops amid global trade fears

2019-05-14 05:50

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NEW YORK, May 13 (Xinhua) -- U.S. dollar decreased in late trading on Monday, as the dollar was weakened amid widespread fears among investors over intensifying global trade tensions.

A flare-up in global trade tensions has rippled through U.S. markets across the board, triggering worries over global economic growth prospect.

Wall Street embraced the week's first trading day with steep selloffs in all the three major indexes, among which, the Dow once evaporated over 700 points during early afternoon sessions.

The Swiss franc, widely regarded as a safe-haven asset, rose sharply against the greenback on Monday.

One dollar was worth 1.0065 Swiss francs around market close, retreating nearly 0.6 percent from the 1.0125 level last Friday.

The dollar index, which measures the greenback against six major peers, was down 0.01 percent at 97.3217 in late trading.

In late New York trading, the euro was unchanged at close to 1.1231 dollars from 1.1231 dollars in the previous session, and the British pound fell to 1.2965 dollars from 1.3007 U.S. dollars in the previous session. The Australian dollar fell to 0.6950 dollar from 0.6997 dollar. The U.S. dollar bought 109.33 Japanese yen, lower than 109.90 Japanese yen of the previous session. The U.S. dollar fell to 1.0065 Swiss francs from 1.0125 Swiss francs, and it increased to 1.3467 Canadian dollars from 1.3421 Canadian dollars.
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