Dollar Dozes in Asia, Euro Waits on Lagarde Speech

Monday, 4 November 2019 07:39 WIB

Yen EuroDolar ASPoundsterling


Major currencies started the week in a quiet mood with a holiday in Tokyo making for thin trading conditions and investors waiting to hear the first official speech from the new head of the European Central Bank later in the session.

The dollar had tried to rally on Friday after U.S. payrolls beat expectations, but was undone by a soft manufacturing survey which left it looking heavy.

The euro started the week firm at $1.1168 as bulls looked to test the October peak of $1.1179 and the 200‑day moving average at $1.1195.

Against a basket of currencies, the dollar was stuck at 97.226 .DXY having touched a three-month low at 97.107 on Friday. It was now targeting the August trough of 97.033.

The dollar fared a little better on the yen as safe havens fell from fashion, edging up to 108.22 from Friday's low around 107.87.

Sterling remained well bid at $1.2931 after last month's rally from $1.2200, as investors wagered there was less risk of a hard Brexit now that an election campaign was underway.

Source : Reuters


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