Forex – Dollar at 3-Week Lows, Pound Hits Post Brexit Highs


© Reuters. Dollar at 3-week lows, pound hits post Brexit highs

Investing.com – The dollar slid to three week lows against a currency basket on Tuesday as concerns over tensions between the U.S. and Russia eased, while the pound hit a post Brexit high ahead of the latest UK jobs report.

The , which measures the greenback’s strength against a basket of six major currencies, was down 0.12% to 89.02 by 04:20 AM ET (08:20 AM GMT), the lowest level since March 28.

The dollar drifted lower as risk appetite improved amid expectations that U.S.-led missile strikes on Syria over the weekend would not lead to an escalation into a broader conflict.

But geopolitical tensions remained in focus amid lingering concerns over a simmering U.S. – China trade spat.

The dollar came under pressure on Monday after U.S. President Donald Trump accused Russia and China of in a Twitter post.

The tweet came after the U.S. Treasury Department published its semi-annual report on currencies on Friday and declined to name China as a currency manipulator.

China’s foreign ministry said on Tuesday that information coming out of U.S. regarding the Chinese currency is .

The dollar was lower against the yen, with down 0.14% to 106.97.

The euro rose to three week highs, with advancing 0.13% to 1.2396.

The pound hit a 22-month high against the dollar, with last up 0.15% to 1.4359.

The gains in the pound came ahead of a jobs report that was expected to show that wage growth overtook inflation in February, easing a cost of living squeeze and raising the chances for a rate hike by the Bank of England next month.

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