Investing.com - The dollar traded higher against most major
currencies on Monday after military tensions in Ukraine, Gaza and
Iraq subsided, allaying concerns that geopolitical events could
threaten U.S. recovery.
In U.S. trading on Monday, EUR/USD was down 0.18% at 1.3386.
Reports that Russia has ended the military exercises it was
conducting near the Ukraine border gave the dollar room to rise on
Monday in a session void of major market-moving indicators.
Russian President Vladimir Putin said Moscow is working with the
International Red Cross to send humanitarian aid to Ukraine, which
also gave the greenback support.
Meanwhile in the Middle East, a 72-hour ceasefire between Israel
and Hamas in Gaza took effect on Sunday, which gave the dollar
further room to rise by allaying concerns that geopolitical
tensions will dampen global growth and possibly prompt the Federal
Reserve to spend more time analyzing the economy before raising
A U.S. decision to launch airstrikes in Iraq to halt a Sunni
insurgency also gave the greenback support, as fears that the
country was on the edge of chaos ebbed on Monday as well.
Separately, the euro came under pressure due to ongoing
expectations that monetary policy will tighten in the U.S., U.K. at
a time while the European Central Bank may decide to loosen policy
further to steer the euro area away from deflationary decline.
The dollar was up against the yen, with USD/JPY up 0.13% at
102.17, and up against the Swiss franc, with USD/CHF up 0.10% at
The greenback was down against the pound, with GBP/USD up 0.08%
The dollar was mixed against its counterparts in Canada,
Australia and New Zealand, with USD/CAD down 0.37% at 1.0932,
AUD/USD down 0.16% at 0.9262 and NZD/USD down 0.05% at 0.8458.
The US Dollar Index, which tracks the performance of the
greenback versus a basket of six other major currencies, was up
0.07% at 81.52.
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