The euro advanced against the dollar and most rivals Friday, with the shared currency the biggest mover among majors in an otherwise subdued session.
But even euro’s move — supported by a report showing stronger-than-expected French business activity, with a flash PMI reading of 56.4 versus expectations form 54.3 — was also limited as global trade tensions weigh on perceived riskier currencies and buttress demand for havens.
Euro-dollar changed hands at $1.1636 compared to $1.1604 late Thursday in New York.
Investors continued to monitor trade tensions between the US and major trading partners such as China and the European Union and whether trade issues could develop into a drag on the global economy. These concerns come as the American economy, the world’s largest, is increasingly viewed as operating in the late stages of its expansion. The EU has said it will begin implementing tariffs on $3.2 billion in US imports on Friday.
The ICE US Dollar Index was at 94.657, down about 0.1%, a move that left it little changed on the week, even as the index had hit a fresh 11-month high earlier this week. The index is heavily weighted to the euro.
A broader gauge of dollar strength, the WSJ Dollar Index fell 0.1% at 87.94.