The dollar strengthened against the yen on Tuesday as investors warmed to risky assets after official data showed growth in China deteriorated by in the fourth quarter — increasing the likelihood of further economic stimulus.But the greenback weakened against the euro as the slide in oil prices resumed, helping support the shared currency as investors unwound risky bets on emerging-market currencies and bought back the euros used to fund those bets, market strategists said.
The ICE U.S. Dollar index DXY, -0.09% a measure of the dollar’s strength against a basket of six rival currencies, was up 0.1% to 99.0910.
The greenback USDJPY, -0.32% strengthened to ¥117.59 from ¥117.31 late Monday in New York. Meanwhile, the euro strengthened to EURUSD, +0.1742% $1.0911 late Tuesday from $1.0885 Monday as the shared currency benefited from falling oil prices. The British pound GBPUSD, -0.0706% fell to $1.4179 from $1.4256.
The price of crude oil traded on the New York Mercantile Exchange settled lower CLG6, -1.65% as investors worried about the impact of Iranian crude on markets. However, the global benchmark LCOH6, -0.42% settled slightly higher.
The bifurcation in oil prices was reflected in currency trading. The Canadian dollar weakened USDCAD, +0.1646% against the U.S. dollar, while the Norwegian krone USDNOK, +0.1441% and Russian ruble USDRUB, +0.14% held on to their gains.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment