SINGAPORE (Reuters) – The dollar rose against most other currencies on Monday, holding near a six-week high as fresh worries about U.S.-Sino trade tensions and global growth drove appetite for safe-haven assets.
“U.S.-China talks are the big focus for the week and the dollar strength is indicative of the cautious market sentiment right now owing to its safe-haven status,” said Nick Twidale, chief operating officer at Rakuten Securities.
Aussie - Dollar - Euro - Levels - Dampening
“The Aussie dollar and the euro are at vulnerable levels right now and further dampening in risk sentiment can lead to further downside in these currencies.”
U.S. negotiators will this week press China on longstanding demands that it reform how it treats U.S. companies’ intellectual property in order to seal a trade deal that could prevent tariffs from rising on Chinese imports.
Dollar - Percent - Yen - Traders - Moves
The dollar gained 0.1 percent versus the yen to 109.82. However, traders expect moves in dollar/yen to be small on Monday as Japanese markets remain shut for a public holiday.
The dollar index, a gauge of its value versus six major peers, was marginally higher at 96.64, on track for its eighth straight day of gains.
Trade - Tensions - World - Economies - Driver
Trade tensions between the world’s two largest economies have been a major driver of global investor sentiment over the past year. Market confidence took a hit last week when U.S. President Donald Trump said he did not plan to meet with Chinese President Xi Jinping before...
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