Dollar still on the downside but close to 3-week peak
Investing.com – The U.S. dollar remained moderately lower against other major currencies on Monday, as trader took a breather after sending the greenback to a three-week high and as equity markets began to recover from steep losses.
The greenback had broadly strengthened after the U.S. Congress early Friday morning, ending a brief government shutdown.
The agreement is set to boost federal spending by almost $300 billion and suspend the debt ceiling for a year.
Government activities were temporarily shut down when a midnight deadline to pass the U.S. budget deal was missed on Thursday due to a prolonged speech by Senator Rand Paul, who said the bill would “loot the Treasury.”
The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.09% at 90.14 by 05:15 a.m. ET (09:15 GMT), after climbing to a three-week high of 90.45 on Friday.
The euro and the pound were higher, with up 0.11% at 1.2265 and with also adding 0.11% to 1.3838.
Sterling recovered from losses posted after after European Union Brexit negotiator Michel Barnier warned Britain on Friday that a post-Brexit transition deal was “not a given”.
The yen and the Swiss franc were also stronger, with down 0.10% at 108.68 and with shedding 0.13% to 0.9381.
In Japan, reports on Monday indicated that Haruhiko Kuroda would be re-appointed as head of the Bank of Japan and likely continue the country’s ultra-loose monetary policy.
Elsewhere, the Australian dollar was moderately higher, with up 0.10% at 0.7823, while slipped 0.17% to 0.7245.
Meanwhile, eased 0.09% to trade at 1.2568.
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.
Latest posts by investing.com (see all)
- Euro, sterling shaky as markets eye Italy budget, Brexit developments - October 22, 2018
- Forex – Weekly Outlook: October 22 – 26 - October 21, 2018
- FX options flag uncertainty before U.S. midterm election; bonds complacent - October 21, 2018