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U.S. dollar rises amid trade concerns
Last Updated: 2018-04-03 09:25 | Xinhua
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The U.S. dollar index increased against most other major currencies in late trading on Monday, as investors assessed the latest developments of trade relations between China and the United States.

China suspended tariff concessions on 128 items of U.S. products including pork and fruits starting Monday, according to the Ministry of Finance.

The Customs Tariff Commission of the State Council has decided to impose a tariff of 15 percent on 120 items of products imported from the United States including fruits and related products, and a tariff of 25 percent on eight items of imports including pork and related products from the country, according to a statement posted on the ministry website.

The statement said it was a countermeasure in response to a previous U.S. move to slap tariffs on steel and aluminum imports.

Despite worldwide objections, the U.S. administration decided to impose a 25-percent tariff on steel imports and a 10-percent tariff on aluminum, with tariffs on imports from countries including China.

On the economic front, the Purchasing Managers Index (PMI) decreased 1.5 percentage points from the February reading of 60.8 percent to 59.3 percent in March, missing market estimates, the Institute for Supply Management (ISM) reported on Monday.

The dollar index, which measures the greenback against six major peers, rose 0.08 percent at 90.046 in late trading.

In late New York trading, the euro decreased to 1.2301 dollars from 1.2324 dollars in the previous session, and the British pound was up to 1.4041 dollars from 1.4035 U.S. dollars in the previous session. The Australian dollar fell to 0.7653 dollar from 0.7686 dollar.

The U.S. dollar bought 105.84 Japanese yen, lower than 106.24 Japanese yen of the previous session. The U.S. dollar increased to 0.9546 Swiss franc from 0.9541 Swiss franc, and it rose to 1.2939 Canadian dollars from 1.2893 Canadian dollars.

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