Dollar firm after Chinese growth hits 28-year low
Monday, 21 January 2019 23:57 WIB | CURRENCIES |Dolar Euro

The dollar held near a two-week high on Monday, shrugging off concerns about weakening global growth and data showing China's economy slowed sharply in 2018.

The greenback has enjoyed its first weekly gain since mid-December, buoyed by hopes for a thaw in U.S.-China trade tensions and stronger-than-expected U.S. industrial production numbers.

The dollar index, which measures its strength against a group of six major currencies, on Monday was steady at 96.3.

The euro was flat at $1.1359 and was headed for its first daily gain in over a week but remained in close reach of a two-week low of $1.1353 brushed on Friday.

The pound was 0.1 percent lower at $1.2861.

The Australian dollar was steady at $0.7166 after ending Friday on a loss of 0.3 percent.

The Aussie was largely unfazed by China's growth numbers though analysts agree that any sharp drop in demand from its biggest trading partner would put a dent in local assets.

The U.S. financial markets will be closed on Monday for Martin Luther King Jr. Day.

CNBC

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