Dollar Exhibits Strength Again

Trading 11 fév 2020 Donner votre avis

The U.S. dollar continued to grow stronger against most major currencies, and hit a four-month high against the euro on Monday, amid rising concerns about the economic impact of the rapidly spreading coronavirus and on recent upbeat U.S. economic data.

Although the Chinese government has lifted some work and travel restrictions in order to help businesses resume operations after long delays, worries about the coronavirus outbreak continue to linger.

With the virus outbreak showing no signs of slowing, the head of the World Health Organization (WHO) has warned about the potential for more cases beyond China.

WHO Director-General Tedros Adhanom Ghebreyesus voiced concern over the spread from people with no travel history to China, saying "we may only be seeing the tip of the iceberg."

The dollar index rose to 98.88 around noon, and stayed firm around that mark since then. It was last seen at 98.86, up 0.18% from previous close.

Against the Euro, the dollar strengthened to $1.0912, from an early low of $1.0960. Eurozone investor confidence index dropped to 5.2 from 7.6 in December, the behavioral research institute Sentix said.

The current situation index of the survey fell to 4.0 from 5.5 and the expectations measure eased to 6.5 from 9.8.

The dollar weakened against Pound Sterling, easing to $1.2946, but regained some lost ground subsequently, and was last seen at $1.2914, down by about 0.2% from Friday's close.

The dollar was little changed against the Japansese currency, with a unit of the U.S. currency fetching 109.76 yen, compared to 109.73 yen on Friday.

The dollar is flat against Swiss franc at 0.9773. Switzerland's consumer price inflation remained stable in January, data from the Federal Statistical Office showed on Monday.

Separately, the State Secretariat for Economic Affairs, or SECO, reported that the jobless rate remained unchanged in January.

The consumer price index rose 0.2% year-on-year in January, same as in December. This was in line with economists' expectation.

The jobless rate held steady at a seasonally adjusted 2.3% in January, SECO said, in line with expectations.

On an unadjusted basis, the unemployment rate rose to 2.6% in January from 2.5% in the prior month. This was in line with economists' expectations.

The dollar gained marginally against the Loonie at 1.3319. Against the Aussie, the dollar was down with the AUD-USD pair hovering around 0.6685.


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