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Forex News: Dollar Trading Mixed As Trade Concerns Remain In

Dollar Trading Mixed As Trade Concerns Remain In Focus

06/18/2018 - 14:24:00 (RTTNews)

(RTTNews) - The dollar is turning in a mixed performance Monday afternoon, but remains little changed overall. Investors remain focused on trade concerns at the start of the new trading week.

U.S. President Donald Trump announced plans to impose tariffs on $50 billion worth of Chinese goods last Friday, leading China to announce plans to impose tariffs on 545 products imported from the U.S.

Partly reflecting sharply elevated lumber prices, the National Association of Home Builders released a report on Monday unexpectedly showing a deterioration in U.S. homebuilder confidence in the month of June.

The report said the NAHB/Wells Fargo Housing Market Index dipped to 68 in June from 70 in May. Economists had expected the index to come in unchanged.

German Chancellor Angela Merkel's leadership is also under threat over migrant issues, prompting concerns the collapse of a fragile coalition could lead to a Europe-wide break up.

The dollar rose to an early high of $1.1564 against the Euro Monday, but has since retreated to around $1.1615.

The buck climbed to a high of $1.3225 against the pound sterling Monday morning, but has since eased back to around $1.3250.

British households' financial pressures intensified slightly in June, largely reflecting greater living costs, results of a survey by IHS Markit and market research company Ipsos Mori revealed Monday. The seasonally adjusted Household Finance Index, or HFI, dropped to 43.4 in June from May's 25-month peak of 44.9.

The average asking price for a house in the United Kingdom was up 0.4 percent on month in June, property tracking website Rightmove said on Monday. That followed the 0.8 percent increase in May.

The greenback slipped to a low of Y110.297 against the Japanese Yen early Monday, but has since rebounded to around Y110.490.

Japan posted a merchandise trade shortfall of 578.321 billion yen in May, the Ministry of Finance said on Monday. That missed expectations for a shortfall of 205.2 billion yen following the downwardly revised 624.6 billion yen surplus in April.

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