Forex – Dollar Continues to Ride EUR/USD Slump to Fresh 2018 Highs



Investing.com – The dollar remained close to 2018 highs supported by an ongoing slump in both the euro and sterling, while bullish labor market data also lifted sentiment.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose by 0.33% to 92.92. The greenback rose to an intraday high of 93.13.

The U.S. Labor Department’s latest (JOLTs) report, a measure of labor demand, showed job openings in March improved to about 6.55m, beating expectations of 6.02m.

Also helping the dollar extend its bullish run was an ongoing slump in both the euro and sterling.

fell 0.15% to $1.3538 after data showed U.K. rose less-than-expected in April, further eroding investor hopes for a Bank of England rate hike later this week.

fell 0.38% despite an uptick in as traders braced for another bout of political uncertainty in the region after coalitions talks in Italy failed, raising the prospect of fresh elections in the country.

The uptick in the dollar emerged as safe-haven demand ticked higher, supporting the yen, ahead of slated for 2 pm E.T.

rose 0.01% to Y109.61, while rose 0.57% to C$1.2954. The Canadian dollar came under pressure as oil prices slumped after traders appeared to cut their bullish bets on oil ahead of Trump’s announcement.

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