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Forex - Dollar edges higher as euro slips

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Investing.com -

Investing.com - The dollar gained ground against the other major currencies on Monday buoyed by indications that geopolitical tensions are easing, while the euro weakened as concerns over the outlook for the euro area weighed.

Market sentiment was boosted as tensions in Ukraine eased, but investors were continuing to monitor developments in the region closely. Signs that the U.S. is pushing back insurgents in Iraq also underpinned risk appetite.

USD/JPY inched up 0.08% to 102.11, holding well above Friday's two-week lows of 101.50.

EUR/USD was down 0.16% to 1.3386, off Friday's highs of 1.3431.

The single currency was pressured lower by concerns over the diverging monetary policy stance between the European Central Bank and its major peers. Worries over the impact of the ongoing conflict between Russia and Ukraine on Germany's economy also weighed.

The pound inched higher, with GBP/USD easing up 0.08% to 1.6785, while the Swiss franc was slightly lower, with USD/CHF edging up 0.09% to 0.9061.

Earlier Monday, official data showed that Swiss retail sales were up 3.4% in June from a year earlier, easily surpassing forecasts of 0.3%.

The New Zealand dollar was almost flat at 0.8463, while the Australian dollar dipped, with AUD/USD easing 0.16% to 0.9261.

The Canadian dollar moved higher after data showed that domestic housing starts rose unexpectedly in July, indicating strong demand in the housing sector.

USD/CAD fell 0.026% to 1.0943, off Friday's highs of 1.0983.

The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, eased up 0.07% to 81.51.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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