The value of the U.S. dollar moved modestly lower over the course of the trading session on Friday, as traders seemed reluctant to make significant moves.
The dollar is trading at 109.45 yen compared to the 109.51 yen it fetched on Thursday. Against the euro, the dollar is valued at $1.1018 compared to yesterday’s $1.1009.
The choppy trading came amid concerns rising tensions between the U.S. and China over the situation in Hong Kong could impact ongoing trade talks.
After President Donald Trump signed two bills in support of pro-democracy protesters in Hong Kong, a spokesman for China’s Foreign Ministry threatened strong countermeasures.
Foreign Ministry spokesman Geng Shuang accused the U.S. of interfering in China’s internal affairs and violating international law and the basic norms governing international relations.
“China will take strong counter-measures in response to the U.S. behavior that interferes in China’s internal affairs and undermines China’s interests,” Geng said.
“No one shall underestimate China’s determination in safeguarding national sovereignty, security and development interests,” he added. “Nor shall they misjudge China’s resolve in implementing the ‘one country, two systems’ principle and in upholding prosperity and stability in Hong Kong.”
With a fresh round of protests expected over the weekend, the dispute over the situation in Hong Kong could potentially derail the long-awaited phase one trade deal.
Trading activity remained relatively light, however, with many traders still away from their desks following the Thanksgiving Day holiday on Thursday.
The material has been provided by InstaForex Company – www.instaforex.com