U.S. dollar steady against other major currencies on Wednesday. The yen was lower as risk sentiment improved, but concerns over slowing global growth and U.S-China trade tensions looked likely to keep gains in riskier assets in check.
- The U.S dollar index, which measures the grennback’s strenght against a basket of six major currencies, was at 95.97 by 03:10 AM ET (08:10 AM GMT), which changed a bit, for the day.
- The yen was weaker against the greenback, with USD/JPY advancing 0.26% to 109.64. Also, it was lower against the euro, with EUR/JPY climbing 0.32% to 124.61.
- Australian dollar was slightly higher, with AUD/USD rising 0.18% to 0.7135.
- The New Zealand dollar was also higher, with NZD/USD gaining 0.5% to trade at 0.6780
- The euro and the pound were both flat against the U.S. currency, with EUR/USD at 1.1356 and GBP/USD changing hands at 1.2962.
Since Prime Minister Theresa May’s divorce deal with the EU was rejected by lawmakers last week in the biggest defeat in modern British history, lawmakers have been trying to plot a course out of the crisis, yet no option has the majority support of parliament.
“The market is now completely discounting the prospect of a hard Brexit, though the political risk still remains in play and volatility is sure to ratchet higher if no clear path is visible to the market,” said Kathy Lien, managing director of currency strategy at BK Asset Management.
Source: Investing.com
