US dollar slackens on stronger risk demand and trade agreement perspectives

Posted 18 February, 2019

This week has started with reduced trading on the markets due to no important economic reports in Europe and weekend in North America. 

The US dollar faced a weakening at the start of the week, losing grounds vs the majors on stronger risk demand driven by a good chance for the trade agreement between Washington and Beijing. At the same time, the American representatives stated that huge work still must be done. The parties are said to remain at the negotiating table this week.

For now, the US Dollar index decreased to 96.50 after reaching some 96.82 earlier. 

The greenback got stronger against the Japanese yen with the rate staying at 110.54. For reference, the yen has reportedly become the cheapest currency in the world after the risk asset demand recovered.

At the same time, the euro-to-US dollar exchange rate restored positions above the $1.13 handle moving up to some $1.1333, while earlier the euro had been on the downward track for about two weeks touching the bottom last week.

The increase was also recorded in the sterling-to-US dollar rate. The British currency gained grounds against the greenback rising to some $1.2933, following Friday's upturn.

The Australian dollar went up to some $0.7150 against its American counterpart. The New Zealand dollar-to-US dollar rate rose to some $0.6879.

Besides, the raw materials quotes also posted gains overnight. Specifically, the oil market recorded the peaks since last November. 

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18 February, 2019 15:30

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