Dollar Climbs Higher On Safe-haven Appeal
(RTTNews) - The U.S. dollar gained in strength on Tuesday as worries about slowing growth and rising U.S.-China tensions pushed up the demand for the safe-haven currency.
Tensions between the U.S. and China have risen due to U.S. House Speaker Nancy Pelosi's visit to Taiwan.
It is feared that Pelosi's trip to Taiwan would raise tensions between the two economic superpowers. Chinese foreign ministry spokesman Zhao Lijian said that Pelosi's visit would lead to "very serious developments and consequences". The White House has warned China against turning her visit into a crisis.
Data from the Labor Department showed the number of job openings in the US fell by 605,000 from a month earlier to 10.7 million in June of 2022, the lowest in nine months and below market expectations of 11 million.
The dollar index climbed to 106.34, gaining about 0.85%.
Against the Euro, the dollar is trading at $1.0167, firming from $1.0263.
The dollar is trading at $1.2165 against Pound Sterling, gaining from $1.2251.
Against the Japanese currency, the dollar weakened to around 130.60 yen before recovering lost ground.
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