As traders calmed over the spread of the pneumonia-like virus in China, the USD edged higher, while Germany’s DAX index posted a record high.
Following the release of strong economic data, the USD managed to stay little changed in early Asian trading today.
Washington’s decision to impose visa bans on Chinese officials combined with adding further Chinese companies to a US-trade blacklist, has weighed on the slim hopes that both economies would potentially reach a truce at upcoming negotiations.
The US dollar managed to hold its near highs today after trade war concerns prevailed, encouraging investors to lean towards the greenback.
Overnight, China’s yuan sunk to a new 11 and a half-year low, reaching its worst month on record, following fears that the economy is suffering from an intensifying US-China trade war.
Asian and Australian shares dived on Monday amid a new bout of the US-China slugfest that has been dominating the markets in recent months.