The dollar rose against the yen and the Swiss franc on Tuesday, as traders grew more optimistic ahead of a speech by US President Donald Trump, which is expected to renew the postponement of customs duties on cars produced by the European Union.

Trump's speech at the New York Economic Club is expected to drive the market, as he is due to discuss US trade policy.

Traders will also be anxious to hear hints about the Trump administration's long-running trade war with China and any progress toward a "phase one" trade deal.

The dollar index, which tracks the performance of the US currency against a basket of six currencies, rose 0.1 percent, according to Reuters news agency.

The dollar advanced against the safe-haven currencies, rising 0.2 percent against the yen and the Swiss franc in early trading in London.

The euro fell 0.1 percent against the dollar to $ 1.10225, near a four-week low of $ 1.10165 hit last week.

The New Zealand dollar fell 0.5 percent to 0.6335 against the US dollar, recovering only slightly from last week's low of $ 0.6323.

The yuan steady in foreign exchange against the dollar at about 7 yuan to the dollar, the level that the Chinese currency first crossed in August.

The yuan has been weakened by political turmoil in Hong Kong and by weak economic data from China.

The dollar was supported last week, when comments from China's Ministry of Commerce were interpreted as a sign of progress in abolishing US and Chinese tariffs, causing traders to abandon safe-haven currencies like the yen.

Source Sky News

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