The US dollar has fallen on trade uncertainty against many other global currencies. This fall is due to the impact of see-saw trade headlines on the stronger dollar. The US dollar index which is an indication of the strength of the US dollar has failed to sustain in comparison to six major currencies and witnessed a fall of 0.1% by 97.593. It is not at all a good news and the US manufacturing activity fell to a new low in a decade in May which is responsible for the slowing down of the US economy.
However, following the US president Donald Trump’s decision to blacklist the Chinese tech giant, Huawei, the trade tensions seemed to ease out. This also caused a sensation among all the other technology firms around the globe. The US dollar didn’t get affected against the Japanese yen and the USD/JPY stood at 109.56. However, there was a fall of the US dollar by 0.2% against the Canadian dollar with USD/CAD falling to 1.3444. A lot of forex trading companies have been affected by this downfall of the US to a great extent.
On the other hand, the Euro has reached a new height post the surprising win of Dutch Labor Party’s Frans Timmermans in the European Elections. And there is a gain of 0.2% of Euro against Dollar to 1.1197. Taking about other currencies, there is no change in pound even though Prime Minister Theresa May made an announcement of her resignation in the first week of June. GBP/USD has increased by 0.1% to 1.2667 and the Euro also jumped by the same magnitude against the pound.
Trump and Twitter feud escalates as Twitter flags Trump’s tweet on Minnesota Protests
Everyone is aware of the ongoing situation in America. Not only is the country under turmoil, but there are also undercurrents of protests against the Trump administration. The situation escalated quickly when George Floyd, a black man, was killed by four white policemen.
Citizens are calling it an act of white male supremacy, and are demanding justice for George Floyd. The police officers were restraining Floyd for some reason, but video footage of the incident shows a police officer leaning on the neck of Floyd as he asks for mercy and gasps for breath.
The four policemen have since been suspended from duty, and the FBI is doing a Federal civil rights probe. There have been protests across the country, for the cause of Black Rights. George Floyd’s death has sparked riots across the country.
Recently, there was a protest in Minnesota that went out of hand. And President Trump did not lose the time to tweet about it. In the tweet, he called the protestors thugs. He also warned that, as soon as “the looting begins, the shooting begins.”
This tweet did not sit well with Twitter because it violated the terms and conditions of Twitter. It promoted the glorification of violence. That’s why the tweet was flagged, and a notice was placed on it.
Later, the White House Tweeter handle, reposted the tweet from Trump’s account. The war between Twitter and Trump seems to be growing tense. President Trump is calling out Twitter and wants to revoke the 230.
Section 230 of the Communications Decency Act, which protects the authenticity of the platform. Trump and his supporters want to amend the section and revoke the 230. As the situation gets out of hand, it seems to be seen who will win the Twitter war.
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