Dollar mitigated; Rub Russian copper due to new sanctions on Moscow
The US dollar fell slightly in today's trading session after rising during the night to the highest level within 13 months, while the Russian Rup was drastically reduced by the information that Washington was planning to impose new sanctions against Moscow.
Indices US Dollar INDEX, tracking index of USD versus a basket of other 6 currencies, down 0.02% to 95.44 at 1:02 AM ET (05:02 GMT).
The US dollar, which is considered the winning object in the American-Chinese trade war, has increased by 0.6% during the overnight session and is trading near the highest level for 13 months as 95.652.
The market is waiting for reports on U.S. consumer price inflation (CPI) in July 7 published today, which is expected to show that inflation levels can increase by 0.2%, after a 0.1% increase in June.
Meanwhile, the Russian ruble also attracted interest after hitting the lows for two years when reports reported that the United States had announced new sanctions against Moscow in an ex-Russian agent who brought Russia in the UK into Since Mar 4.
The USD/CNY rate rose 0.3% to 6.8412 on Friday, while HSBC said they expected the Chinese currency to rise sharply compared to the dollar until the end of 2018.
HSBC's comment was given after financial firms including J.P. Morgan, UBS and ING doubtful of the prospects of Yuan Dong in the context of escalating trade tensions and China's economic challenges.
"Currently the market is affected by psychological negativity caused by concerns about trade tensions... We think the market is currently predicting a rather pessimistic scenario, "said Fan Cheuk Wan, head of investment strategy and consultant for Asia at HSBC Bank, told the" Squawk Box "of CNBC on Thursday, adding that the situation with the United States actually carries Back to China more motivating demand for domestic growth.
"Due to domestic demand contributing more than 90% of China's GDP growth, demand for domestic growth will be the main factor to keeping financial and economic stability in the second half of this year," she added.
In other markets, the yen rose against the dollar on Friday, the USD/JPY rate was reduced by 0.32% to 110.73.
Indices US Dollar INDEX, tracking index of USD versus a basket of other 6 currencies, down 0.02% to 95.44 at 1:02 AM ET (05:02 GMT).
The US dollar, which is considered the winning object in the American-Chinese trade war, has increased by 0.6% during the overnight session and is trading near the highest level for 13 months as 95.652.
The market is waiting for reports on U.S. consumer price inflation (CPI) in July 7 published today, which is expected to show that inflation levels can increase by 0.2%, after a 0.1% increase in June.
Meanwhile, the Russian ruble also attracted interest after hitting the lows for two years when reports reported that the United States had announced new sanctions against Moscow in an ex-Russian agent who brought Russia in the UK into Since Mar 4.
The USD/CNY rate rose 0.3% to 6.8412 on Friday, while HSBC said they expected the Chinese currency to rise sharply compared to the dollar until the end of 2018.
HSBC's comment was given after financial firms including J.P. Morgan, UBS and ING doubtful of the prospects of Yuan Dong in the context of escalating trade tensions and China's economic challenges.
"Currently the market is affected by psychological negativity caused by concerns about trade tensions... We think the market is currently predicting a rather pessimistic scenario, "said Fan Cheuk Wan, head of investment strategy and consultant for Asia at HSBC Bank, told the" Squawk Box "of CNBC on Thursday, adding that the situation with the United States actually carries Back to China more motivating demand for domestic growth.
"Due to domestic demand contributing more than 90% of China's GDP growth, demand for domestic growth will be the main factor to keeping financial and economic stability in the second half of this year," she added.
In other markets, the yen rose against the dollar on Friday, the USD/JPY rate was reduced by 0.32% to 110.73.
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