The dollar index gained 0.56%, to 105.59 units, after reaching 105.50, its highest level since July.
He euro played on monday its lowest level in six and a half months against the dollargiven the concern of investors about the possibility of new US tariffs that harm the euro zone economy.
The dollar index, which compares the greenback to a basket of six major currencies, sslightly exceeded the highs recorded just after the presidential elections in the United Stateswith markets still awaiting clarity on the future policy of the world’s largest economy.
“It seems that the markets are increasingly pricing in a red wave. I think the dollar benefits from it”said Bipan Rai, managing director at BMO Global Asset Management. The euro was down 0.7% at $1.0643, after losing 0.78% on Friday.
Politics remained in the spotlight after German Chancellor Olaf Scholz cleared the way for early elections.
He dollar index It gained 0.56%, to 105.59 units, after reaching 105.50, its highest level since July. Last week it shot up more than 1.5%, to 105.44, after Trump’s victory in the presidential election.
Trump “will be less burdened by the political considerations of having to run again”said Libby Cantrill of PIMCO. “However, what appear to be narrow margins in Congress – potentially historic in the House – could be a brake on Trump’s agenda, fiscal and otherwise.”
The dollar advanced 0.79% against the yen, to 153.84 unitsafter declining from the high of 154.7 touched last week due to the risk of Japanese intervention. On November 6 it reached 154.68, its highest level since July.
Source: Ambito
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