By: Nadeemy Haded
The dollar rose on Wednesday, and currencies exposed to trade fell after the US president threatened to escalate the trade war, and China's condemnation of a measure by the US Senate in support of protesters in Hong Kong.
The Chinese yuan fell to a new low in two weeks in overnight trading, after President Donald Trump threatened to raise new tariffs on Chinese imports if the ongoing trade negotiations fail, according to "Reuters."
China condemned what it called "US intervention" in Hong Kong and said Washington should stop such practices.
After four days of decline, the dollar rose 0.1 percent against the euro and a basket of currencies.
The Canadian dollar fell to its lowest level since October 11 after a speech by a senior deputy governor of the Bank of Canada, "the central bank", supported expectations of cutting interest rates.
The highly exposed currencies on trade have been hit by a deterioration in US-China relations, with the Australian and New Zealand dollars falling 0.4 percent against the US dollar.
Norwegian krone fell 0.9 percent against the dollar and 0.7 percent against the euro.
The Swedish krona fell, but at a slower pace, falling 0.4 percent against the dollar and 0.7 percent against the euro.
Demand for safe-haven currencies was little changed, with the yen gaining around 0.1 percent against the dollar and the Swiss franc steady at around 0.9905.
Source Sky News