Forex – Dollar Gains; Rouble, New Zealand Dollar Tumble


© Reuters. Dollar gains; rouble, New Zealand dollar tumble

Investing.com – The dollar gained ground against a currency basket on Thursday, while Russia’s rouble tumbled on sanctions fears and the New Zealand dollar hit two year lows on a dovish sounding central bank statement.

The , which measures the greenback’s strength against a basket of six major currencies, was up 0.13% to 95.08 by 03:18 AM ET (07:18 AM GMT).

The dollar was little changed against the yen, with at 111.02 after falling as low as 110.71 overnight ahead of expected bilateral trade talks between the U.S. and Japan in Washington later in the day.

The euro slid against the dollar, with down 0.19% to 1.1588.

The single currency was also a shade lower against the yen, with easing to 128.76.

The pound was struggling near one-year lows against the euro and the dollar, with at 1.2857 and at 0.9011 amid growing fears over the prospect of without a trade deal in place.

The New Zealand dollar was sharply lower, with dropping 1.16% to 0.6656, its weakest level since mid-March 2016.

The drop in the kiwi came after the Reserve Bank of New Zealand said overnight that it for another two years and opened the door to a rate cut if needed.

The Australian dollar was holding steady, with at 0.7424.

Meanwhile, the U.S. dollar jumped to its highest level against Russia’s rouble in two years, with surging 1.68% to 66.6500. Russia’s currency was pressured lower by fears over the prospect of .

China’s yuan slid against the dollar, with the currency, which is usually closely controlled by Beijing, at in offshore trading.

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