Pain in Asia pushes dollar to two-and-a-half week high as investors seek safety 7:04am EDT [Reuters]
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Source: Reuters
Pain in Asia pushes dollar to two-and-a-half week high as investors seek safety - Reuters 4 Min Read LONDON (Reuters) - Signs that Asia is already feeling the pinch from a trade conflict between the United States and China triggered some safe haven flows into the U.S. dollar on Tuesday, while higher U.S. Treasury yields helped the move. Data showed economic growth in Singapore was its lowest in nearly a decade in the first quarter, while in Thailand it was at its lowest in four years, raising worries that major Asian economies will be hurt by global trade tensions. Elsewhere, Australia’s top policymaker Philip Lowe said on Tuesday the Reserve Bank of Australia would consider the case for lower interest rates at its June policy meeting, pushing the Aussie dollar half a percent lower to $0.6873. “The situation in Asia is difficult - Thailand, Singapore, export decline in Korea - which shows that the trade conflict is hurting even without a further escalation,” said Commerzbank FX strate
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