The dollar stood near two-week highs on Monday after decent U.S. economic data w...
LONDON - The dollar stood near two-week highs on Monday after decent U.S. economic data was released on Friday, while sterling recovered following last week’s big drop.
The euro was little changed below $1.11. With the economic calendar light before the holidays, analysts doubt this week will see significant moves for major currencies. The dollar has benefited both during bouts of risk aversion - because it is considered a safe-haven currency - and when markets have rallied, because the U.S. economy is outperforming other parts of the world.. Against a basket of currencies, it edged 0.1% lower - its index touching 97.611 .DXY - but remained near Friday's peak, the highest since Dec. 6.
“The big picture remains though that the dollar continues to struggle for direction again the other major currencies amidst record low volatility,” MUFG analysts wrote in a note, pointing to the modest 1.5% rise for the dollar index in 2019.
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