U.S. Dollar Climbs As Irma Impact Lessens, N.Korea Worries Ease
11 Septembre 2017 - 7:09AM
RTTF2
The U.S. dollar advanced against its most major counterparts in
early European deals on Monday, as geopolitical tensions eased
after North Korea refrained from launching new missile over the
weekend and fears about hurricane Irma waned.
Hurricane Irma was downgraded to a Category 1 storm as it moved
into northern Florida and carried maximum sustained winds of about
85 miles per hour. It was a category four storm when it hit Florida
on Sunday, cutting off power to 2 million people. Geopolitical
tensions simmered after North Korea did not conduct a missile test
over the weekend despite speculation that it would do so.
The United Nations prepared to vote on a new round of sanctions
against North Korea. The draft resolution by the U.S. called for
imposing stringent sanctions on North Korea, including a ban on all
oil and natural gas exports to the country and a freeze of all
foreign financial assets of the government and its leader. Today's
economic calendar is rather light, with investors watching U.S.
producer prices on Wednesday, consumer inflation report on
Thursday, followed by industrial production and consumer sentiment
on Friday for more clues about the economy.
The currency has been trading in a positive territory in the
Asian session.
The greenback climbed to 4-day highs of 1.1993 against the euro
and 0.9512 versus the franc, from Friday's closing values of 1.2035
and 0.9439, respectively. If the greenback extends rise, 1.18 and
0.98 are likely seen as its next resistance levels against the euro
and the franc, respectively.
The greenback hit 108.61 against the yen, its highest since
September 9. At Friday's close, the pair was valued at 107.84.
Continuation of the greenback's uptrend may see it challenging
resistance around the 110.00 area.
Data from the Bank of Japan showed that Japan's M2 money stock
rose 4.0 percent on year in August, coming in at 978.0 trillion
yen.
That was unchanged from the July reading, although it was shy of
estimates for a gain of 4.1 percent.
The greenback that closed last week's trading at 0.8054 versus
the aussie advanced to a 4-day high of 0.8028. The greenback is
seen finding resistance around the 0.79 mark.
On the flip side, the greenback weakened to 1.3199 against the
pound, after having advanced to 1.3168 at 1:15 am ET. On the
downside, 1.34 is likely seen as the next support for the
greenback.
Looking ahead, Canada housing starts for August is due at 8:15
am ET.
Euro vs US Dollar (FX:EURUSD)
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Euro vs US Dollar (FX:EURUSD)
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