Currencies: U.S. dollar sinks to 3-week low as trade spat continues

The U.S. dollar on Friday sunk to its lowest level in three weeks, hours after the U.S. officially increased tariffs on $200 billion worth of Chinese goods.

The ICE Dollar Index, DXY, -0.09% a measure of the greenback’s strength versus six trading rivals, hit a session low at 97.132, its lowest level since April 18. In most recent trade, the index was at 97.241.

The tariffs, which increased to 25% from 10%, kicked in at 12:01 a.m. Eastern Time on Friday. U.S. and Chinese officials subsequently met briefly. Treasury Secretary Steven Mnuchin told reporters after meeting China’s top negotiator, Vice Premier Liu He, that talks were “constructive,” but offered no further characterization.

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