Dollar Becalmed as Japan Takes an Extended Break
Monday, 29 April 2019 08:24 WIB | CURRENCIES |DOLLAR YenDolar AS

Calm settled over Asian currency markets on Monday as Japan kicked off a week of holidays, giving investors an extra excuse to sit on their hands ahead of a Federal Reserve policy meeting and U.S. jobs numbers.

All eyes are on the Fed to see what they made of the first-quarter gross domestic product report, which showed strong growth of 3.2 percent, but largely for one-off reasons including a surge in inventories.

It was this risk that saw the dollar fall back on Friday despite the upbeat GDP report. Against a basket of currencies, the dollar was last steady at 98.032, having eased from a near two-year peak of 98.330.

On Monday, the dollar was idling at 111.59 yen, having briefly touched its highest this year last week around 112.39. Chart support comes in at 111.37 and 110.83.

The euro was likewise almost unchanged at $1.1149, not far from a near two-year trough of $1.1110.

Source : Reuters

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