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Dollar weighed by Fed prospects; Swiss franc, gold shine on geopolitics


Tuesday, 25 June 2019 08:36 WIB

YenDolar ASFranc Swiss


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The dollar on Tuesday remained shackled by the prospects of monetary easing by the Federal Reserve while the safe-haven Swiss franc and gold were supported by simmering tensions between Washington and Tehran.

The euro hit a three-month high of $1.14065 in early Asia trade. It has gained 2.0% from a two-week low of $1.1181 touched a week ago as the dollar has lost steam.

The dollar was on the defensive against the yen at 107.35 yen, a tad above Friday's five-month low of 107.045.

The U.S. currency's index against a basket of six major rivals fell to its lowest level in three months to 95.953, having lost 1.7% over the past week.

The dollar traded at 0.9721 franc, having slipped to 0.9710 on Monday, its lowest since late September.

The Swiss currency strengthened to near two-year highs against the euro to 1.1079 per euro, within touching distance of 1.1057 hit on Thursday, its highest since July 2017.

Gold also shot up to $1,425.3 per ounce, reaching its highest levels in nearly six years.

Source: Reuters


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