Forex Market Update : Epic Research Singapore

The dollar shrugged off a slate of weak economic data Monday to trade higher against the euro, yen and pound, benefiting from a surprise rate cut from the People’s Bank of China.

The euro EURUSD, +0.12%  fell to $1.1182, flat compared with its Friday-afternoon value of $1.1198. The buck USDJPY, -0.34%  traded at 120.18 yen, its highest level in nearly three weeks. It traded at ¥119.63 Friday. The pound GBPUSD, +0.10%  traded at $1.5366, compared with $1.5440 Friday.

The ICE U.S. Dollar Index, a measure of the greenback’s strength against a trade-weighted basket of six rival currencies, DXY, -0.20%  rose 0.2% to 95.47.

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