Economy

Concerns that trade wars will restart raise safe haven US dollar

Concerns that trade wars will restart raise safe haven US dollar

The signals that the trade wars between the United States and China might reignite caused the US dollar to be seen as a safe haven to rise against other currencies.

Expectations that the worst were left behind in the coronavirus epidemic and that the global economy would move again, raised the risk appetite of investors and led to high risk and high yield assets by leaving dollar assets.

But on Friday, after US President Donald Trump said that some privileges granted to the Hong Kong autonomous region could be lifted, news came that China would stop importing soy and pork products that he promised to buy from the United States under the trade agreement.

There were concerns that if the promises made in the Phase 1 agreement were not followed, the trade tension between the two largest economies in the world would rise again.

In the light of these developments, the Euro Dollar parity is at the level of 1.11.

Dollar / TL is trading at the 82 level as of noon after the day starts horizontally.

The dollar / TL, which was traded on the 6.80-6.84 band on Friday, completed the day just below the previous closing level with 6.8137.

Euro / TL is traded at 7.58, sterling / TL at 8.49.

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