Dollar heads for first weekly profit in 2019

Dollar fell in European trade on Friday against a basket of major rivals on profit-taking after hitting two-week highs yesterday, while still on track for the first weekly profit in 2019. 

The dollar index slipped 0.1% to 95.65 from the opening of 95.70, with a session-high at 95.78. 

The dollar added 0.1% on Thursday, the third profit in a row, marking two-week highs at 95.91 following upbeat data. 

The index is up 0.4% this week while on track for the first weekly profit in five as major rivals gave up ground for political reasons. 

Major central banks around the world continue to face difficulties and pressures when starting to normalize policies and increase rates, especially the European Central Bank, as the economy continues to slow down. 

Bank of England faces similar issues especially amid high uncertainty surrounding Brexit. 

The dollar is also boosted by the apparent progress achieved in US-China trade talks.

US Treasury Secretary Stephen Mnuchin is allegedly discussing plans to lift some or all tariffs on Chinese imports during upcoming negotiations on January 30, according to a report by the Wall Street Journal