July 25, 2018 / 8:10 PM / a year ago

Dollar extends losses after U.S. reportedly secures trade concessions from EU

NEW YORK (Reuters) - The U.S. dollar weakened against the euro after President Donald Trump secured concessions from the European Union to avoid a trade war, the Wall Street Journal said on Wednesday citing an EU official.

The euro rose to $1.1737 following the report, up 0.45 percent on the day. The U.S. dollar was down 0.21 percent against the yen at 110.95 yen.

Trump and the EU’s chief executive, Jean-Claude Juncker, were discussing trade relations in Washington on Wednesday. They were expected to make statements at a joint event following the meeting, White House officials said.

Reporting by James Thorne; Editing by Chizu Nomiyama

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