The dollar ended lower last week after a mixed U.S. jobs report. Overall job growth was strong but the unemployment rate and average hourly earnings were disappointing, thus pushing the greenback down. Meanwhile, the U.S. – China trade war escalate to another level last Friday as the tariffs went into effect on both sides. A total of $34 billion worth of duties was imposed on each other’s imported goods. The markets seem to be setting aside trade war concerns and the Chinese currency rose against the dollar. It was helped by the recent news from Chinese officials that they wouldn’t use the yuan as a trade-policy weapon.
Tariffs shrugged off; markets move higher
Weekly Report - 09/07/2018