The euro fell during today's trading session, reaching a daily low of 1.1629, while the US deadline for imposing tariffs on Chinese goods affected on the markets, making the Chinese yuan the biggest gainer by 0.8% recovering from its 11-month low.
US markets are out of business today due to Independence Day, prompting traders not to enter selling or buying positions at least until a clear vision of the trade war between the world's two largest economies.
European equities were following Asian stocks on the decline due to escalating fears of imposing $34 billion as tariffs on Chinese goods, which will come into effect on July 6. China has also imposed tariffs on US goods of the same value and will enter into force on the same day.
Currently, the EURUSD is settling at 1.1640 levels, while the Dollar Index remains stuck near its lowest level since June 29 at 94.60.
The British pound gained during the day after UK service sector data showed that the sector gained momentum in June and after a slow start in 2018 the British economy showed temporary signs of recovery especially in the manufacturing, construction and services sectors. The GBPUSD is currently trading at its highest since June 27 at 1.3227.
