Forex - Dollar Slips; Euro Sterling Gain Ground as Risk Appetite Revives - Investing.com

Investing.com - The dollar was broadly lower on Monday, with the euro and the pound gaining ground as concerns over Italy’s budget row eased, but investors remained cautious as a host of geopolitical risks continued to loom over markets.

The , which measures the greenback’s strength against a basket of six major currencies, was down 0.27% to 96.56 by 04:32 AM ET (09:32 AM GMT), retreating from one-week highs of 96.96 reached overnight.

The dollar was supported overnight as fears of a slowdown in global economic growth and concerns over U.S.-China trade tensions sapped risk appetite.

The euro strengthened against the dollar, with rising 0.41% to 1.1382.

The euro was boosted by between Rome and the EU over Italy’s 2019 budget after Deputy Prime Minister Matteo Salvini indicated that his government could lower its borrowing targets.

The EU has rejected Italy’s 2019 draft budget, over plans to run a 2.4% deficit, which is in breach of EU fiscal rules.

The pound was also higher, with up 0.22% to 1.2841, but gains were held in check amid over Brexit.

On Sunday, EU leaders approved the terms of the UK’s withdrawal from the bloc, but market watchers are now focused on whether the Brexit deal will pass a vote in the British parliament.

Sterling was slightly lower against the euro, with rising 0.18% to 0.8862.

The dollar was higher against the yen, with advancing 0.25% to 113.24.

Market sentiment received an additional boost as oil prices stabilized in the wake of last week’s plunge, but investors remained in a cautious mood ahead of the at the upcoming G20 summit later in the week.

U.S. President Donald Trump and his Chinese counterpart Xi Jinping are expected to meet on the sidelines of the summit and investors are hoping that talks between the pair could lead to a ceasefire in the trade war between Washington and Beijing.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Read Again Forex - Dollar Slips; Euro, Sterling Gain Ground as Risk Appetite Revives - Investing.com : https://ift.tt/2QhPJ4t

Let's block ads! (Why?)