U.S. Dollar Slips on Trade Uncertainty as Euro Rises

The U.S. dollar slipped on Friday forex trading as investors digested the impact of see-saw trade headlines about the more powerful greenback.

The U.S. dollar index, which measures the greenback’s power against a basket of six big currencies, dropped 0.1percent to 97.593 by 10:14 AM ET (14:14 GMT).

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U.S. manufacturing action on Thursday reach its lowest level in almost a decade in May, which could mean the U.S. economy is slowing down.

Trade tensions eased Friday following U.S. President Donald Trump explained that a deal with China could comprise Huawei in certain form. The government has set the Chinese technology giant onto a blacklist, resulting in a rippling effect among tech companies around the world.

The greenback was flat against the safe-haven Japanese yen, together with USD/JPY in 109.56. USD/CAD fell 0.2 percent to 1.3444.

The euro was higher after Dutch Labor Party Frans Timmermans won the European Elections at a sudden victory. EUR/USD gained 0.2percent to 1.1197.

The pound seemed unmoved by Prime Minister Thersea May declaring her resignation effective June 7.

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