from The Daily Bell
The beginning of May 2020 was marked with a significant increase in the value of the U.S. Dollar (USD) versus most major currencies in the global foreign exchange market. Financial experts who have weighed in on the matter said that the surge was caused by fears related to a re-emergence of the U.S.-China trade war. However, instead of the usual culprits for tension escalation, experts point to the current pandemic as the origin of this potential trade war re-ignition.
Speaking with Reuters, Monex Europe currency analyst Simon Harvey said that trading was “dominated by risk-averse trading as investors weigh the negative consequences to global growth from another escalation in U.S.-China tensions.”