Forex – Aussie Down In Asia, Dollar Up As Geopolitical Tensions Worry

Dollar gains in Asia

Investing.com – The Aussie fell in Asia on Thursday and the dollar staged a mild rebound as President Donald Trump taunted North Korean leader Kim Jong-un on Twitter.

fell 0.14% to 0.7819, while changed hands at 112.34, up 0.05%.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.07% to 91.62.

In his tweet, Trump said: “North Korean Leader Kim Jong Un just stated that the “Nuclear Button is on his desk at all times.” Will someone from his depleted and food starved regime please inform him that I too have a Nuclear Button, but it is a much bigger & more powerful one than his, and my Button works!”

Overnight, the dollar fell to more than three-month lows against a basket of major currencies on Tuesday as traders awaited key economic data releases slated for this week.

The greenback made a subdued to start to the trading year, falling to more than three month lows amid a lack of top-tier economic data and lower trading volumes.

The minutes of the Federal Reserve December meeting and non-farm payrolls data slated for later this week, however, are expected to get the trading year underway in earnest as traders look for clues on monetary policy and the progress of the labor market, respectively.

Goldman Sachs (NYSE:) recently said it expects the trend of falling unemployment to continue, forecasting unemployment in 2018 to fall to 3.5% below the April 2000 low of 3.8%.

Also adding to dollar weakness was a rise in the pound and euro as both currencies picked up from where they left off in 2017, adding to gains against the greenback.

The euro’s bullish start to the year comes amid recent hawkish monetary policy comments from European Central Bank Executive Board member Benoit Coeure.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Comments

comments