Forex – Dollar Edges Higher
Forex – Dollar: On Thursday the dollar was slightly stronger in early trading in Europe. Signs of global economic weakness push a retreat from riskier assets.
British pound is stead after a flurry of voting on Brexit. However, there is no clarity about the UK’s ultimate destination.
The U.K.’s House of Commons voted against all eight of the alternatives to Prime Minister Theresa May’s divorce deal last night in London.
Even though May, succeeded in buying off some prominent dissenters in her own party by promising to step down as leader if they backed it, she’s deal still doesn’t have enough support to command a majority.
The euro is flat against the dollar at $1.1250, testing a two-week low. The dollar index, which measures the greenback against a basket of six major currencies, was at 96.535, up around 0.3% from late trading in the U.S. on Wednesday.
The dollar is also rising against the South African rand and hit a six-month high against the Brazilian real and a new record high against the Argentinian peso on Wednesday.
In addition, the dollar is up over 3% against the Turkish lira in early trading, as the central bank’s efforts to rein in offshore short selling merely succeed in attracting more speculative attacks.