Dollar holds firm before holidays, sterling recovers slowly

Monday, 23 December 2019 16:22 WIB

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The dollar stood near two-week highs on Monday after decent U.S. economic data was released on Friday, while sterling recovered following last week's big drop.

The euro was little changed below $1.11. With the economic calendar light before the holidays, analysts doubt this week will see significant moves for major currencies.

Data published on Friday showed the U.S. economy, already enjoying a record expansion, appears to have maintained its moderate growth as the year ended, supported by a strong labour market.

The dollar was unchanged against the euro at $1.1085 . Against a basket of currencies, it edged 0.1% lower - its index touching 97.611 - but remained near Friday's peak, the highest since Dec. 6.

The Australian dollar, which is closely linked to sentiment towards China, rose 0.1% to $0.6913. The New Zealand dollar gained 0.2% to $0.6618.

Sterling suffered its worst week in three years last week after Prime Minister Boris Johnson ruled out extending the transition period for Britain to negotiate a trade deal with the European Union.

Source : Reuters


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