Dollar Recovers Slightly on More Upbeat Trade News
By
Renae Dyer, Dow Jones Newswires
The dollar was recovering slightly on easing concerns over the global trade war.
U.S. Commerce Secretary Howard Lutnick said the U.S. has reached a trade agreement with China and that deals with 10 more trading partners were imminent. Meanwhile, the EU said it's ready for a trade deal with the U.S.
The more upbeat trade news soothed worries about slowing U.S. economic growth. This provides some support to the dollar after it reached a three-year low against a basket of currencies Thursday following a Wall Street Journal report that President Donald Trump was considering selecting a replacement for Federal Reserve Chair Jerome Powell early.
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