The US dollar began trading at the opening of the week with weak movements in the Asian session continuing into the European session, Monday.
This is due to the uncertainty that still surrounds the market driven by concerns about the development of the global tariff war issue.
President Donald Trump announced a 100% tariff imposed on all films imported into the United States (US) with the reason to save their country's film industry.
In addition, some parties began to worry that the semiconductor tariffs by the US would be announced as early as Wednesday.
However, in the New York session yesterday, the US dollar began to show a strengthening following a positive reaction to the US services PMI data published by the ISM survey.
The growth of the services sector in April rose to 51.6 points, better than the forecast of 50.2, and surpassed the previous month's reading of 50.8 points.
This followed the reading for the manufacturing sector survey published last week, with figures better than forecast.
The current health of the US economy will be assessed and commented on by Federal Reserve (Fed) Chairman Jerome Powell at the latest FOMC meeting, which is expected to decide on interest rates early Thursday morning.
Trump has said he has no intention of removing Powell, but continues to push for interest rates to be lowered.
Will Powell listen to Trump's wishes?
