Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Forex - Dollar Index Holds Steady in Cautious Trade

Published 09/13/2017, 05:24 AM
Updated 09/13/2017, 05:24 AM
Dollar little changed vs. rivals as caution remains

Investing.com - The dollar held stready against other majors on Wednesday, as investors remained cautious due to the potential of fresh geopolitical tensions with North Korea.

Market sentiment was still midly supported as Hurricane Irma appeared to have caused less damage than feared and in the absence of any new provocations from North Korea.

Irma, which had hammered the Caribbean late last week andwas one of the most powerful Atlantic hurricanes, weakened to a tropical depression, easing concerns over the severity of its financial impact.

Separately, market participants seemed to shrug off North Korea’s rejection of sanctions imposed by the U.N. Security Council.

The Security Council voted unanimously on Monday to step up sanctions on the peninsula, in response to its sixth nuclear test.

U.S. President Donald Trump said Tuesday that the U.N. sanctions were a "very small step" and "nothing compared to ultimately what will have to happen" to combat the regime's nuclear program.

The safe-haven yen and Swiss francweresteady, with USD/JPY at 110.13and with USD/CHF at 0.9604.

Elsewhere, EUR/USD was also little changed at 1.1973, while GBP/USD eased 0.11% to 1.3269 after data showed that the UK unemployment rate unexpectedly fell in July but wages registered a weaker-than-expected growth.

Sterling had rallied broadly on Tuesday amid expectations that the day's strong inflation reading would prompt the Bank of England to take a more hawkish stance on interest rates.

The Australian was stronger, with AUD/USD up 0.22% at 0.7283, while NZD/USD was almost unchanged at 0.7283.

Meanwhile, USD/CAD slumped 0.38% to trade at 1.2140.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was little changed at 91.84 by 05:20 a.m. ET (09:20 GMT).

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.