XE Market Analysis: Europe – Jun 08, 2018

The dollar has been trading mixed amid a worsening risk-off tone in global markets, losing ground to the yen while gaining against the euro and dollar bloc currencies. Market participants are wary about the G7 meetings in Canada, which will start later today, and which seems to be mostly seen as a risk event give the escalating hostility over trade. There seems little chance for resolution at this stage, with Trump yesterday accusing Canada and France of imposing “massive tariffs” and non-monetary barriers on U.S. imports.