Euro weakens on slowdown fears; dollar advances
Tuesday, 8 January 2019 17:21 WIB | CURRENCIES | Indeks Dolar Euro

The euro fell on Tuesday as the euro zone economy showed more signs of slowing, while the dollar gained despite growing bets the U.S. central bank will pause its rate hike cycle.

The euro fell 0.3 percent to $1.1285. It has traded in a tight range of $1.12 to $1.15 since mid-November.

Weakness in the euro supported the dollar, which rose 0.3 percent against a basket of currencies to 95.959. The dollar index has lost around 2 percent since mid-December and remains near a three-month low of 95.638 reached on Monday.

The British pound traded at $1.2764. Traders expect sterling to remain volatile over the next few weeks as Brexit approaches.

Elsewhere, the Australian dollar was lower by 0.4 percent at $0.7123. Despite its weakness on Tuesday, traders remain positive on the Aussie dollar for now.

Reuters

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