Dollar Close to 1-Month High; Forint Steady Near All-Time Low
Friday, 30 August 2019 15:32 WIB | CURRENCIES |DOLLAR Indeks DolarDolar AS

The dollar rose to its highest level in nearly a month in early trading on Friday, enjoying continued support from tentative signs of rapprochement in the trade war with China ahead of the long Labor Day weekend.

The dollar made some of its strongest gains against the safe haven Swiss franc, which has also lost ground against the euro this week amid continued suggestions that the Swiss National Bank is quietly intervening to counteract the effect of safe haven inflows into the franc from investors spooked by the trade war.

At 4 AM ET (08:00 GMT), the dollar index, which tracks the greenback against a basket of developed market currencies, was at 98.528, up around 0.1% from late Thursday and just off a four-week high of 98.55. Against the euro, it was up 0.2% at $1.1037.

And in emerging markets, the Hungarian forint recovered a touch after hitting a new all-time low on Thursday as the country™s central bank left open the possibility of a first interest rate cut since 2016. By 4 AM, the euro was at 331.30 forint, down from as high as 331.52 on Thursday.

Source : Investing.com

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