Dollar Rising On Light Data Day

WASHINGTON (Alliance News) – The dollar is gaining ground against all of its major rivals Monday afternoon. Economic data was light at the start of the new trading week, but will pick up as the week goes on. Traders are also looking forward to the release of the minutes from the most recent meeting of the Federal Reserve Wednesday afternoon.

Tensions between the US and North Korea have relaxed in recent days. Senior US national security officials on Sunday played down the chances of nuclear war with North Korea, but cautioned that the danger is much greater than it was a decade ago.

The dollar has climbed to around USD1.1775 against the Euro Monday afternoon, from an early low of USD1.1838.

Eurozone industrial production declined for the first time in four months in June, Eurostat reported Monday.

Industrial production decreased 0.6% month-on-month in June, reversing a revised 1.2% rise in May. This was the first decrease since February, when output slid 0.2%. Economists had forecast output to fall 0.5% in June.

The buck has risen to around USD1.2970 against the pound sterling this afternoon, from a low of USD1.3022 this morning.

The greenback has rebounded to around Y109.675 this afternoon, after slipping to a low of Y109.154 this morning.

Japan’s gross domestic product advanced 1.0% on quarter in the second three months of 2017, the Cabinet Office said in Monday’s preliminary reading. That beat forecasts for a gain of 0.6% following the upwardly revised 0.4% increase in the three months prior.

Copyright RTT News/dpa-AFX

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