Dollar flirts with 19-month high against euro

Tuesday, 02. April 2019 19:06

The dollar rose against most major competitors on Tuesday as investors were wary of the trajectory in the economies of the Eurozone and the United Kingdom. Together with Brexit unknowns and the high risk of a cliff-edge separation from the European Union, the trade bloc's macro indicators have shown a setback and the European Central Bank has lowered its forecasts and eased policy. At the same time, China's yuan declined in the abscence of the regular statements from officials from both the government in Beijing and the United States about progress in bilateral talks. However, the US Chamber of Commerce hinted it expects a deal would be reached.

The euro dipped under $1.2 and traded 0.15% lower at 1:05 pm ET, when it changed hands for $1.11962. The level was looking to dip to the lowest mark since July 6, 2017.

The pound reversed most of the losses ahead of an update from British Prime Minister Theresa May and held 0.15% down at $1.3085. The greenback advanced 0.15% to 6.72789 offshore yuan. The dollar was flat at ¥111.336 and 0.99818 Swiss francs.

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