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
Forex- Dollar Inches Higher as Sterling Slumps on Brexit Angst
Published Nov 27, 2018 02:22PM ET
© Reuters.
Investing.com - The dollar rose against its rivals Tuesday, shrugging off mostly bearish economic data, while a slump in the pound also lifted sentiment.
The U.S. dollar index, which measures the greenback against a trade-weighted basket of six major currencies, rose by 0.29% to 97.27.
The S&P/Case-Shiller national house price index rose to a seasonally adjusted 0.3% in September, but rose just 5.1% compared to a year before, missing expectations for a 5.3% increase.
The Conference Board’s consumer confidence gauge fell to a reading of 135.7 in November from 137.9 in last month, missing economists’ forecast for a reading of 135.9.
Consumer sentiment is a leading indicator of consumer spending, which plays a major role in overall economic activity.
The dollar was also swayed by remarks from Federal Reserve Vice Chairman Richard Clarida, who continued to back gradual rate hikes and said there were was no agreement on "how close" interest rates were to neutral.
A slump in sterling helped the greenback hold gains after President Donald Trump said the Brexit agreement would hamper trade between the United States and Britain.
Traders were also eyeing the Bank of England's report on the economic impact of Brexit on Wednesday.
GBP/USD fell 0.71% to $1.2739, while EUR/USD fell 0.37% to $1.1298.
USD/JPY rose 0.17% to $113.78 as Wall Street rebounded from early-session weakness, reducing demand for safe-haven yen, even as White House chief economic advisor Larry Kudlow reportedly downplayed the prospect of U.S.-China trade deal at an upcoming G20 summit.
USD/CAD, meanwhile, rose 0.36% to C$1.3304, as falling oil prices continued to weigh on the loonie.
-- Reuters also contributed to this report.
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.