Dollar Mostly Sluggish Against Major Currencies

Trading 25 fév 2019 Donner votre avis

The U.S. dollar turned in a sluggish performance against its peers on Monday as optimism about U.S.-China trade increased after the U.S. President Donald Trump said he would extend the deadline for trade talks beyond March 1.

Trump said he would delay the deadline for additional tariffs on Chinese goods, originally set to begin on March 1.

Saying trade talks are seeing a substantial progress on a series of divisive areas, including intellectual property protection, technology transfers, agriculture, services and currency, Trump indicated a likely meeting with Chienese President Xi Jinping to reach a final deal.

The dollar index, which opened at 96.50, swung between 96.32 and 96.60, and was last seen hovering around 96.40, down by slightly less than 0.1% from previous close.

Against the Euro, the dollar was trading at $1.1365, losing about 0.26%, and against British Pound Sterling, it was weak as well, with the sterling fetching $1.3103, after having closed at $1.3055 on Friday.

The British Parliament is scheduled to vote on a possible Brexit delay on Wednesday even as support for another referendum is reportedly gathering some momentum.

The greenback edged higher against the Japanese Yen, gaining about 0.35%, at 111.10 Yen, rising from 110.58. The dollar strengthened to 111.24 Yen before paring some gains.

The greenback was little changed against the Swiss Franc, trading at CHF 1.0004 a dollar.

The Canadian dollar was down by about 0.10 cents at 76 cents U.S.

In economic news from the U.S., data released by the Commerce Department showed wholesale inventories jumped by much more than anticipated in the month of December.

The report said wholesale inventories surged up by 1.1% in December after climbing by an upwardly revised 0.4% in November. Economists had expected inventories to rise by 0.3%, matching the increase originally reported for the previous month.

The bigger than expected jump in wholesale inventories came as inventories of durable goods spiked by 1.5% in December after rising by 0.7% in November.

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