US dollar at its lowest level since the beginning of the week

6 Sep 2018 04:00 PM

The US dollar was steady at its lowest level since the beginning of the week, as the dollar index trading against a basket of currencies at 94.93 levels, in light of the commercial concerns of Trump's threats to impose new tariffs on Chinese imports, and also the markets are waiting for US employment data tomorrow.

Sterling continued to rise, taking advantage of the weakness of the dollar, but is still lower than the highest level recorded yesterday at 1.2982 in the wake of the news about the readiness of Germany to give up some points of contention in the negotiations of Brexit. The pound sterling is being traded at the 1.2945 levels currently.

Oil prices were affected by turmoil in emerging markets, but the US sanctions on Iran have limited prices to decline more, with oil prices reached the lowest level since August 29 at $ 68.24 a barrel.

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