DXY lingers near one-week low under 99 mark amid rising US-EU tensions

The dollar index lingers at a one-week low under 99 mark on Tuesday morning in Asia on escalating after US President Donald Trump announcement to impose new tariffs on goods from eight European countries fueled concerns about a broader trade war. US President Donald Trump said over the weekend that a 10% tariff would be imposed from February 1 on goods from Denmark, Sweden, France, Germany, the Netherlands, Finland, Britain, and Norway until the US is allowed to purchase Greenland. Yield on the US 10-year Treasury note climbed above 4.25%, reaching its highest level since early September. The dollar index that measures the greenback against a basket of currencies is quoting at 98.74, down nearly half a percent on the day. Investors now turn to key US data due this week, including the PCE price indices, another estimate of Q3 GDP, S&P PMIs and the University of Michigan consumer sentiment survey.

 

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