The dollar stood little changed against its peers on Friday and investor caution prevailed with U.S. tariffs on Chinese goods taking effect and market participants turning their attention to the closely-watched U.S. jobs report due later in the day.
The first salvos of a trade conflict between the world’s biggest economic powers were fired on Friday with U.S. tariffs on $34 billion in Chinese goods coming into effect.
Focus now shifts to retaliatory measures China could employ – Beijing said on Friday it had no choice but to fight back against U.S. bullying on trade – and the potential volatility that could cause in the global financial markets.
But the immediate response among major currencies was limited.
