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The dollar is rising to renew the fears of trade war and an optimistic assessment of the US central
The dollar rose on Thursday as demand for the greenback strengthened on an optimistic US economy report as well as rising trade tensions between China and the United States.
The euro fell to a one-week low as the dollar rallied in early European trade. The escalation of the trade dispute is also pressing the yuan and the Australian dollar, both vulnerable to the worsening trade conflict.
Demand for the US currency has also been boosted by a rise in US Treasuries.
The Federal Reserve kept interest rates unchanged after a two-day meeting, saying US economic growth was rising and the job market was continuing to improve.
Administration officials said on Wednesday that President Donald Trump is proposing a 25 percent tariff on Chinese imports worth $ 200 billion, creating turbulence in global financial markets.
The dollar index, which tracks the performance of the greenback versus a basket of six currencies, rose 0.3 percent to 94.863, moving away from a three-and-a-half-week low of 94.084 last week.
The euro fell to $ 1.1626, down 0.3 percent, its lowest level since July 27.
The dollar fell 0.1 percent against the yen to 111.66 yen, while Japanese government bond yields hit a one-and-a-half year high.
Sterling fell 0.4 percent to $ 1.3078 before the Bank of England meeting scheduled for later in the day. Markets are widely expected to increase interest rates for the second time since the global financial crisis.
The Australian dollar, seen as an indicator of China's growth in Australia's export of raw materials to Beijing, fell 0.4 percent to about US $ 0.7377.
The yuan fell 0.2 percent to 6.8372 yuan in foreign trade.
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