Dollar trims gains as trade concerns weigh

LONDON, Sept 17 (Reuters): The dollar gave up early gains and fell on Monday while emerging market currencies slipped nearly half a per cent as investors waited for the next salvo in the trade war between the United States and China.

US President Donald Trump is likely to announce new tariffs on about $200 billion (152.73 billion pounds) of Chinese imports as early as Monday, a senior official told Reuters. The tariffs will probably be about 10 per cent, less than the 25 per cent the administration had considered.

The news pushed the dollar index up nearly half a per cent on Friday to 95, its biggest daily rise since Aug. 23.

It briefly held on to those gains in early Monday trading before shedding nearly a quarter of a per cent to 94.75.

"Trade wars continue to dominate investors' minds and markets are wary of taking big positions, but overall there is little going on in currency markets,".