The dollar rate began to decline on Monday after significant losses in the previous week due to expected weakness in the American labor market. Concurrently, declines related to the global trade war prompted investors to seek safe havens, which strengthened the yen and the Swiss franc.
Tensions in global markets are caused by conflicts in trade around the world, where U.S. President Donald Trump has imposed tariffs on major trading partners, while temporarily suspending them for a month under conditions of rising American inflation. This undermined investor confidence in the American economy, which previously outperformed its competitors.
In the futures currency markets, investors are reducing their long positions.
