Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
Free Webinar - Decode the market's secrets! | Tuesday, May 30, 2023 | 01:00PM EDT Enroll Now
Forex - Dollar Slips; Euro, Sterling Gain Ground as Risk Appetite Revives
Published Nov 26, 2018 04:33AM ET
© Reuters.
Investing.com - The dollar was broadly lower on Monday, with the euro and the pound gaining ground as concerns over Italy’s budget row eased, but investors remained cautious as a host of geopolitical risks continued to loom over markets.
The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.27% to 96.56 by 04:32 AM ET (09:32 AM GMT), retreating from one-week highs of 96.96 reached overnight.
The dollar was supported overnight as fears of a slowdown in global economic growth and concerns over U.S.-China trade tensions sapped risk appetite.
The euro strengthened against the dollar, with EUR/USD rising 0.41% to 1.1382.
The euro was boosted by signs of a breakthrough in the long running row between Rome and the EU over Italy’s 2019 budget after Deputy Prime Minister Matteo Salvini indicated that his government could lower its borrowing targets.
The EU has rejected Italy’s 2019 draft budget, over plans to run a 2.4% deficit, which is in breach of EU fiscal rules.
The pound was also higher, with GBP/USD up 0.22% to 1.2841, but gains were held in check amid ongoing uncertainty over Brexit.
On Sunday, EU leaders approved the terms of the UK’s withdrawal from the bloc, but market watchers are now focused on whether the Brexit deal will pass a vote in the British parliament.
Sterling was slightly lower against the euro, with EUR/GBP rising 0.18% to 0.8862.
The dollar was higher against the yen, with USD/JPY advancing 0.25% to 113.24.
Market sentiment received an additional boost as oil prices stabilized in the wake of last week’s plunge, but investors remained in a cautious mood ahead of the U.S.-China trade meeting at the upcoming G20 summit later in the week.
U.S. President Donald Trump and his Chinese counterpart Xi Jinping are expected to meet on the sidelines of the summit and investors are hoping that talks between the pair could lead to a ceasefire in the trade war between Washington and Beijing.
Related Articles
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 Investing.com'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
Add a Comment
We encourage you to use comments to engage with other 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, don’t trash it.
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. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.