2019.05.0616:23:00UTC+00U.S. Dollar Turning In Lackluster Performance After Early Advance

After initially benefiting from renewed trade concerns, the value of the U.S. dollar turned in a relatively lackluster performance over the course of trading on Monday.

Currently, the U.S. dollar is trading at 110.87 yen compared to the 111.10 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is valued at $1.1201 compared to last Friday's $1.1198.

The dollar initially benefited from its appeal as a safe haven after President Donald Trump threatened to impose tariffs on all Chinese imports in a series of posts on Twitter on Sunday.

Trump said tariffs on $200 billion worth of Chinese goods would be increased to 25 percent on Friday and threatened to impose tariffs on the remaining $325 billion worth of Chinese goods "shortly."

"The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!" Trump tweeted, claiming the existing tariffs on Chinese goods have had "little impact on product cost, mostly borne by China."

The 10 percent tariff had been scheduled to rise to 25 percent at the end of last year, but the increase was delayed due to ongoing trade talks.

The tweets from Trump raised concerns about the next round of U.S.-China trade talks scheduled for later this week in Washington.

The worries faded over the course of the trading day, however, as analysts described the tweets from Trump as a negotiating tactic.

Indications the Chinese delegation still plans to travel to Washington later this week for another round of trade talks also helped offset the concerns.