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Find all the economic and financial information on our Orishas Direct application to download on Play StoreThis Friday, the American dollar and the Chinese yuan improved, while the Indian rupee and the British pound fell.
The US dollar rose on Friday due to new signs of turmoil in the global trade landscape, as US President Donald Trump announced new tariffs and said he planned to impose general taxes of 15% or 20% on most business partners. Most currencies initially held within tight ranges at the start of the Asian trading session, although the dollar then gained ground thanks to Trump's latest comments that added to the uncertainty around the evolution of his trade policy
.The Chinese yuan rose slightly against the dollar on Friday as the central bank set much more stringent goals, which investors interpreted as an official sign aimed at maintaining currency stability after the new wave of tariffs by US President Donald Trump Trump.
The onshore yuan hit a high of 7.1674 per dollar, the highest level since July 7, before changing hands at 7.1686 at 03:48 GMT.
Its offshore counterpart traded at 7.1693 to the dollar, up about 0.13% in Asian trade.
The British pound fell on Friday, trading near its lowest level in more than two weeks, after the release of data showing a contraction in the British economy for the second month in a row. This situation reinforces expectations of a possible cut in interest rates by the Bank of England as early as next month. The pound weakened by 0.26% to $1.354 and fell by 0.2% against the euro to 86.35
pence.The Indian rupee is expected to open lower on Friday, under pressure from the general strength of the dollar after US President Donald Trump said he planned to impose general tariffs of 15% or 20% on most trading partners. The one-month undeliverable futures contract indicated an opening of the local currency in the range 85.70-85.74, up from 85.6350
on Thursday.
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