Investing.com - The dollar remained supported against a basket
of other major currencies on Monday as heightened tensions between
Russia and the West and conflict in the Middle East underpinned
safe haven demand.
USD/JPY was steady at 101.32, holding above Friday's one week
low of 101.07.
Tensions between the West and Russia have mounted since the
shooting down of a Malaysian airliner in eastern Ukraine late last
week. The U.S. and other nations have accused Russia of complicity
in the crash, which Moscow has denied.
Market sentiment deteriorated on Monday following reports that
Ukrainian troops were moving in to the rebel held city of Donetsk,
fuelling fears over an escalation of the conflict in the
Concerns over Israel's ground offensive in Gaza also contributed
to risk aversion in markets.
EUR/USD dipped 0.04% to 1.3520, not far from Friday's five month
trough of 1.3490.
The euro remained under pressure after recent comments by
European Central Bank President Mario Draghi were seen as the
latest sign that the bank is open to further monetary easing
measures to stave off the risk of deflation in the euro area.
In contrast, Federal Reserve Chair Janet Yellen indicated last
week that interest rates may rise sooner if the economy continues
The euro also edged lower against the yen, with EUR/JPY slipping
0.07% to 136.96 close to the five month lows of 136.69 set on
The dollar was little changed against the Swiss franc, with
USD/CHF at 0.8983. The pound slipped lower, with GBP/USD down 0.17%
AUD/USD lost 0.20% to trade at 0.9372, while NZD/USD was almost
unchanged at 0.8689.
Elsewhere, the Canadian dollar was slightly weaker, with USD/CAD
rising 0.10% to 1.0746, off Friday's one week lows 1.0707.
The US Dollar Index, which tracks the performance of the
greenback versus a basket of six other major currencies, edged up
0.06% to 80.65, not far from last Thursday's one month highs of
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