The dollar hovered near a two-week high early on Monday, as strong U.S. retail s...
TOKYO - The dollar hovered near a two-week high early on Monday, as strong U.S. retail sales data tempered some of the fears about a sharp downturn in the world’s largest economy.
The dollar index versus a basket of six major currencies was little changed at 97.509 after rising to 97.583 on Friday, its highest since June 3. “In addition to the upbeat U.S. data, the dollar is supported by weakness in other currencies, notably the euro and antipodeans,” said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.
The central banks of Australia and New Zealand face a similar predicament as the global economy braces for fallout from the U.S.-China trade conflict.
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