Dollar rises as US-China summit postponed

The dollar rose against most of its major counterparts on Tuesday, supported by investors' demand for a safe haven. Following the postponement of the summit between the US President, Donald Trump, and the Chinese President, Xi Jinping.

"Bloomberg" quoted sources saying that the summit, that was due to be held at the end of March, was postponed to be held in April.

The summit was set to discuss ways to resolve trade disputes between the two countries and conclude a possible historic trade deal that would expected to defuse the trade war.

Analysts say that the postponement of the summit hints to the depth of differences between Washington and Beijing, unlike Trump's and the US administration officials' positive statements from time to time.

However, President Trump stressed today that things are going very well in the negotiations with China, and threatened the European Union, at the same time, to impose customs on the exports to Washington if he refused to hold talks between the United States and the European Union.

Separately, economical data showed that the number of initial jobless claims in the United States rose by about 6,000 to 229,000 last week.

In terms of trading, as of 16:28 GMT, the dollar index rose against a number of major currencies by 0.3% to 96.7 points, recording a high of 96.8 points and a low of 96.4 points.