© Reuters. The dollar traded lower across the board amid Syria fallout
Investing.com – The dollar traded lower across the board on Monday late morning in Asia amid mounting geopolitical tensions and U.S.-China trade talks. The Asian session opened with headlines concerning U.S.-led strikes at Syria over the weekend. Besides geopolitics, the U.S.-China trade spat also remains a focus this week as the International Monetary Fund and the World Bank are holding meetings on Monday.
The that tracks the greenback against a basket of six major currencies last stood at 89.44 at 11:11PM ET (03:11 GMT), down 0.08%.
On Saturday, the U.S., France and Britain launched missiles to target chemical weapons facilities in Syria in response to a said poison gas attack. The joint military action, along with the latest round of U.S. sanctions on Russia, stirred up geopolitical tensions. Traders in Asia responded with a selloff in the greenback to turn to safe-haven assets.
The U.S. retail sales data are due Monday, with market expecting a 0.4% rise in March compared to a decline of 0.1% in February.
In China, The People’s Bank of China set the fix rate of yuan against the dollar at 6.2884 versus the previous day’s 6.2898. The pair gained 0.05% to trade at 6.2819.
China will report its first-quarter growth data on Tuesday, with its GDP growth expected to come at 6.8% to continue the momentum from 2017. The country will also publish data on March industrial production, fixed asset investment and retail sales along with the GDP report.
The pair plunged 0.20% to 107.19. The anti-risk yen attracts demand in times of market turmoil. In addition, Japan’s trade figures will be released on Wednesday.
Elsewhere, the pair gained 0.12% to trade at 0.7773. Australia’s job data will come on Thursday.
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)
- Trump not trying to intervene in currency markets: Mnuchin - July 21, 2018
- Flailing Euro Is Unlikely to Find Any Succor From ECB Meeting - July 20, 2018
- Forex – Dollar Slumps on Trump Trade Comments - July 20, 2018