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Forex - Euro, yen dip as dollar firms up

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Investing.com -

Investing.com - The euro and the yen both edged lower on Monday as the dollar firmed up, while concerns over geopolitical tensions eased, bolstering market sentiment.

EUR/USD eased 0.12% to 1.3394, off Friday's highs of 1.3431.

The pair was likely to find support at around the 1.3350 level and resistance at 1.3431.

The dollar firmed up against after falling against the euro and the yen on Friday after the U.S. launched airstrikes in Iraq, prompting investors to take profits in the greenback.

Market sentiment recovered following reports on Friday that Russia ended military exercises it was holding close to the border with Ukraine.

News of a fresh 72-hour ceasefire between Israel and Hamas in Gaza which came into effect on Sunday also supported investor sentiment.

Trade was expected to remain subdued on Monday with no major economc reports set to be released.

USD/JPY rose 0.07% to 102.09, holding well above Friday's two-week lows of 101.50.

Elsewhere Monday, EUR/JPY edged down 0.08% to 136.72, but remained supported above Friday's eight-and-a-half month lows of 135.71.

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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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