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Dollar falls to 2-week low on trade concerns

UNITED STATES (OBSERVATORY) –┬áThe dollar fell to a two-week low on Monday as the euro rose as Italy’s political tensions ebbed and concerns about global trade returned after China warned the United States over tariffs and other protection measures.

If the United States imposed trade sanctions, including tariff increases, all trade and economic achievements negotiated by the two parties a few weeks ago would be canceled, the official Xinhua news agency said on Sunday.

The euro rose 0.3 percent to $ 1.1694 after rising to $ 1.1737, its highest level since May 24, to keep away from a low of $ 1.151 in 2018 last week.

The Australian dollar rose to its highest level since April as broader risk sentiment and domestic data showed better corporate profits and increased retail sales.

The Australian dollar was up 1 percent at $ 0.7650, its biggest one-day gain since August.