The euro fell today as the trade conflict escalated, bolstering the US dollar and the Japanese yen, besides the yuan weakened to a 6-month low. Concerns continued to push Chinese stocks down, despite earnings data from Chinese industrial firms.
The euro hit its lowest level against the US dollar over the past four days at 1.1593 amid rising trade tensions and signs of a political crisis in Germany due to immigration regulation as well as uncertainty about the EU summit.
The greenback rose against a basket of currencies to test an important resistance level at 95.14.
As trade tensions escalated, the Chinese yuan hit its lowest level since December amid expectations that China may allow it to further weaken to ease tariff impact imposed by the United States.
The pound continued to slide due to imminent Brexit talks and uncertainty about the Bank of England's ability to raise interest rates this year. The GBPUSD hit its lowest level since June 21 at 1.3149 and it is on its way to visit a strong support zone at 1.3060 / 90.
