Dollar dropped to low in 2 weeks when trade tensions dropped

The US dollar slides to the lowest level for two weeks on Tuesdays after the United States and European Union agree steps to avoid commercial warfare, immediately lessen global trade tensions. US President Donald Trump has reached an agreement with the European Commission President Jean-Claude Juncker on Wednesday to expand the imports of U.S. gas and soy water into Europe and reduce industrial taxes on both sides. " We had a great day, very important, "Trump said in a joint statement with Juncker at the White House on Wednesday. The two sides agreed to "together discuss zero tariff issues, no non-tariff fence, and no subsits for non-automatic industrial goods," he added. Indices US Dollar Index, the dollar Tracking index with a basket of six other major currencies, fell 0.1% to 93.96 at 1:19 AM ET (05:19 GMT). This indicator hits the lowest in two weeks at the beginning of an Asian session. Yukio Ishizuki, the high-level monetary strategist of Daiwa Securities in Tokyo, said: "The dollar is much weaker than the currencies including the Chinese yuan, because trade tensions have diminished." The United States and European Union seem to have declared stop stress and hope that negotiations and dealings with NAFTA with China will also be positive. " Meanwhile, the Chinese president gathered a recall at the BRICS summit in Johannesburg on Wednesday that a global trade war would have no winners, and supporters of it "would just end up damaging themselves." The Euro rose 0.1% to 1.1735 USD prior to the 7-month meeting of the European Central Bank at the end of the day. ECB is almost expected to keep the policy intact. Elsewhere, Japanese government bonds still focus on the meeting of the Bank of Japan next week. The USD/JPY rate was reduced by 0.2% to 110.74, when the yen set a record for the 7th consecutive time rising against the dollar.