Dollar supported as fears of ramp up in Sino-U.S. trade war ease
SINGAPORE - The dollar found broad support on Monday as global political uncertainty and fears over a widening of the Sino-U.S trade war kept investors in safe harbours ahead of a slew of global economic indicators this week.
It gained against riskier, trade-exposed currencies such as the Australian dollar and the Chinese yuan. The biggest loser was the New Zealand dollar, which fell half a percentage point as business confidence hit its weakest in more than 11 years. Elsewhere, factory activity surveys in China suggested there were some signs of improvement this month, though analysts believe the gains cannot be sustained and forecast further economic weakness.
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