Dollar steady ahead of Trump's State of the Union address, euro sags
Wednesday, 6 February 2019 08:07 WIB | CURRENCIES |DOLLAR Europound

The dollar held mostly steady against its peers on Wednesday, moving in a narrow range ahead of U.S. President Donald Trump's State of the Union address while drawing support from a sagging euro, which was weighed by soft data.

The dollar index against a basket of six major currencies hovered near an 11-day high of 96.12 reached overnight.

Immediate investor focus was on President Trump's State of the Union address at 0200 GMT.

The euro was little changed at $1.1407 after slipping 0.25 percent the previous day to its lowest since Jan. 28.

The single currency was pressured after a survey released on Tuesday showed euro zone businesses expanded at their weakest rate since mid-2013 at the start of the year.

The dollar was steady at 109.96 yen after posting a gain of 0.4 percent overnight.

The pound extended an overnight slump and brushed $1.2923, its lowest since Jan. 22.

Sterling had lost nearly 0.7 percent on Tuesday on a weak Purchasing Managers' Index data and uncertainty about Brexit talks.

The Australian dollar was up 0.1 percent at $0.7242.

Source: Reuters

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