DXY lingers near 2-week low amid escalating EU-US trade tensions

The dollar index is extending slide for the third straight day to its lowest level in almost two-weeks. Escalating tensions between US and EU over trade tariffs are weighing on sentiments. President Donald Trump, attending the World Economic Forum in Davos, reportedly remained firm on his plan to acquire Greenland. US President Donald Trump said there is no going back on his ambitions regarding Greenland, alongside earlier threats to impose new 10% tariffs on eight European Union (EU) countries, fuelling concerns over slower economic growth. DXY, that measures the greenback against a basket of currencies is quoting at 98.39, marginally down on the day.

 

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