U.S. stocks weakened today. This happened after President Donald Trump stated that the United States is not seeking to extend the June memorandum of understanding with Iran. On the other hand, the U.S. dollar, which had been weakening to multi-month lows during the day, erased a large portion of its losses following these statements.
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Major U.S. indices headed downward
The broader S&P index lost 0.52 percent to 7745.06 points. The Dow Jones index comprising thirty leading industrial companies lost 0.51 percent and closed at 53,459.78 points. The Nasdaq Composite technology market index fell 0.32 percent to 26,644.91.
The White House chief said today that Iran is apparently not willing to conclude the kind of agreement that the United States considers necessary. Reuters reported this. A senior source at this agency said earlier today that Iran has decided to shift from defense to full offense due to blocked efforts to permanently end the war with the U.S. Trump, on the other hand, said shortly before in an interview with Fox News that Tehran should “raise the white flag of surrender.”
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Dollar erased part of losses after Trump’s statements
The dollar index, which tracks the dollar’s performance against a basket of six leading global currencies, showed a decline of 0.09 percent to 99.574 points around 21:40 CEST. The euro strengthened against the dollar by 0.12 percent to 1.1579 USD.
The dollar strengthened slightly against the Japanese yen, by 0.08 percent to 159.436 JPY. Japanese and U.S. authorities intervened in foreign exchange markets at the end of July to halt the yen’s weakening.
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Source: ČTK
