Dollar consolidates gains amid cautious optimism on tariff deal
Monday, 11 November 2019 08:13 WIB | CURRENCIES |Dolar AS

The dollar held near multi-week highs on Monday amid optimism that the United States and China would roll back tariffs that have hurt global growth.

Against the Australian dollar the greenback stood just below a two-week peak at $0.6857. Against the New Zealand dollar, it was close to a month high at $0.6336, and likewise against a basket of currencies at 98.358.

Moves were slight as traders kept a wary eye for further news on the U.S.-China trade war.

The dollar was marginally weaker against the euro and Japanese yen, reflecting some investor caution that the deal could still unwind.

The greenback stood at $1.1020 per euro and at 109.23 yen. The Chinese yuan was marginally weaker in offshore trade, but still on the strong side of 7-per-dollar at 6.9892 in offshore trade.

The British pound, whose fate is now closely tied to the outcome of an election set for Dec. 12, edged higher to $1.2795 in Asian trade.

Source: Reuters

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