close
Advertisement
Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!
REUTERS
October 14, 2018

Dollar gains

Business

REUTERS
October 14, 2018

NEW YORK: The dollar climbed against a basket of currencies as global equity prices rebounded from this week´s rout and robust Chinese export figures soothed worries about the world´s second-biggest economy and its trade war with Washington.

Euro and sterling snapped their three-day winning streak in advance of next week´s European Union summit where Britain and the European Union may strike a Brexit deal.

China´s exports jumped 14.5 percent in September from a year earlier, the biggest year-over-year increase in seven months and marking a record trade surplus with the United States.

The data suggested that the tariffs U.S. President Donald Trump has slapped on Beijing have yet to bite.

"The market breathed a sigh of relief with the Chinese trade numbers despite the tit-for-tat trade war with the U.S.," said Dean Popplewell, vice president of market analysis at Oanda in Toronto.

"People were happy to put on some risk." A weaker yuan likely mitigated the sting from U.S. duties on $250 billion worth of Chinese-made goods, analysts said.

Topstory minus plus

Opinion minus plus

Newspost minus plus

Editorial minus plus

National minus plus

World minus plus

Sports minus plus

Business minus plus

Karachi minus plus

Lahore minus plus

Islamabad minus plus

Peshawar minus plus