Dollar Clings to Gains as Gulf Tensions Bolster Safe-Haven Bid
Monday, 22 July 2019 08:10 WIB | CURRENCIES | Indeks Dolar Yen EuroDolar AS

The dollar held recent gains on Monday as investors tempered some of their expectations for deep U.S. interest rate cuts this month and heightened Middle East tensions supported safe-haven assets.

While currency market focus will mostly center on global central bank decisions scheduled for the next two weeks, investors are also watching for any developments in U.S.-China trade negotiations.

Markets generally expect central banks to either cut rates or keep policy accommodative, starting with the European Central Bank (ECB) which meets on Thursday followed by the Bank of Japan and the U.S. Federal Reserve next week.

The dollar hovered at levels it hit on Friday, around 107.73 yen , but was trapped in the middle of a 107-109 range where it has traded for a month.

The dollar index (DXY), which measures the greenback against a basket of six major currencies, was barely changed at 97.147 after gaining 0.35% last week.

The euro was flat at $1.1217, after declining 0.4% last week.

Source : Reuters

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