Dollar extends modest gains

Dhaka,  Wed,  20 September 2017
Published : 02 Aug 2017, 12:31:13

Dollar extends modest gains

Dollar extends modest gains
The dollar extended its modest gains from 15-month lows on Wednesday, benefiting from a pause in selling of the battered currency as investors begin positioning for key events this week, notably Friday's US employment report.

The dollar index against a basket of major currencies shook off a decline in Treasury yields and was a shade higher at 93.090 after bouncing from 92.777, its lowest since May 2016, reports Reuters.

The euro was unchanged at $1.1806 after being nudged away from a 2-1/2-year peak of $1.1846 set the previous day. The euro has gained about 12 per cent against the dollar so far this year.

The US currency was 0.15 per cent higher at 110.535 yen, pulling away from a near seven-week low of 109.920 touched overnight.

The New Zealand dollar dropped to a one-week low of $0.7416 and was last down 0.5 per cent at $0.7427 following lacklustre data.

The Canadian dollar struggled after being hit by a slide in crude oil prices.

The loonie extended its overnight drop to trade at C$1.2570 per dollar, pulled further away from a 25-month high of C$1.2414 reached last week.

The Australian dollar, another commodity-linked currency, was down 0.2 per cent at $0.7953 following its ascent the previous day to $0.8066, its strongest since May 2015.
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