The US Dollar was able to maintain positive momentum relative to its major peers during the Asian trading session on Friday. The greenback found support as a safe haven currency after the latest trade tensions between the United States and China reduced investors' appetite for riskier assets. The US Dollar Index, a gauge used by FX traders to assess the Dollar's relative strength, had seen its first gain in the last five sessions during the Asian session; the Index was last trading at 94.721 .DXY.
As reported at 10:26 am (JST) in Tokyo, the USD/JPY was trading at 111.027 Yen, up 0.0027% and off the earlier peak of 111.070 Yen. The AUD/USD was lower, trading at $0.7260, down 0.1162%; the pair has ranged from $0.72439 to $0.72670. The NZD/USD was also lower at $0.6650, down 0.1663%; the pair ranged from $0.66375 to $0.66592.
Trump Threatens WTO Pullout
On Thursday, it was reported that President Trump said he was ready to implement his plans for additional tariffs on Chinese imports, with $200 billion the figure his administration has proposed. Trump also commented on Thursday that he was prepared to withdraw from the World Trade Organization if the WTO didn't, “shape up” as regards what he considers unfair treatment of the United States. Trump's comments, however, refute those made just last month by the US Secretary of Commerce who said then that withdrawal talks were premature.