Breaking News

Forex - Dollar Index Holds Steady in Cautious Trade

ForexFeb 09, 2018 05:17AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
Dollar little changed vs. rivals as caution dominates - The U.S. dollar remained lower against other major currencies on Friday, as investors were still cautious after the U.S. Senate approved a bill to end a government shutdown and amid ongoing turmoil in equity markets.

The midnight deadline to pass the budget deal was missed on Thursday due to a prolonged speech by Senator Rand Paul, who objected to $300 billion in deficit spending in the bill saying that it would “loot the Treasury.”

Early Friday, the Senate finally passed a short-term budget bill, ending the brief government shutdown initialed overnight. Senators voted 71-28 to approve the deal. It will now be submitted to the House of Representatives.

The greenback's losses were capped by continuously high U.S. bond yields. The yield on benchmark 10-year Treasury notes was still hovering near four-year highs on Friday.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was little changed at 90.13 by 05:15 a.m. ET (09:15 GMT), off the previous session's two-and-a-half week high of 90.46.

The euro and the pound remained higher, with EUR/USD up 0.16% at 1.2267 and with GBP/USD adding 0.09% to 1.3924.

Data on Friday showed that UK manufacturing production rose 0.3% in December, in line with expectations, while industrial production dropped 1.3%, disappointing expectations for a 0.9% fall.

A separate report showed that the UK trade deficit widened to £13.58 billion in December from a revised £12.46 the previous month, while analysts had expected the deficit to narrow to £11.50 billion.

The yen and the Swiss franc were weaker, with USD/JPY up 0.27% at 109.03 and with USD/CHF gaining 0.25% to 0.9385.

Elsewhere, the Australian and New Zealand dollars turned higher, with AUD/USD up 0.44% at 0.7798 and with NZD/USD edging up 0.12% to 0.7225.

Meanwhile, USD/CAD slipped 0.10% to trade at 1.2591 ahead of the release of monthly Canadian employment data due later in the day.

Forex - Dollar Index Holds Steady in Cautious Trade

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email