Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Forex - Dollar Remains Broadly Lower on U.S. Politics

Published 22/01/2018, 10:15
Updated 22/01/2018, 10:21
Dollar still on the downside amid government shutdown

Dollar still on the downside amid government shutdown

Investing.com - The U.S. dollar remained broadly lower against other major currencies on Monday, as the U.S. government shutdown on Friday continued to weigh on demand for the greenback.

The U.S. government shutdown went into effect at midnight on Friday after Senate negotiators failed to reach an agreement on a last minute deal to keep the government funded amid a dispute over immigration and border security.

The Senate was due to hold a vote at 12:00 PM ET (17:00 GMT) on Monday on a temporary measure to fund the government through Feb. 8, but uncertainty remained over whether it had enough votes to pass.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.25% at 90.26 by 05:15 a.m. ET (09:15 GMT), not far from Friday's three-year low of 89.96.

The euro and the pound were higher, with EUR/USD up 0.25% at 1.2253 and with GBP/USD gaining 0.31% to 1.3902.

The single currency found support following news that Germany's Social Democratic Party voted on Sunday to begin formal coalition talks with Chancellor Angela Merkel's conservatives, easing a political deadlock in the euro area’s largest economy.

The yen was steady, with USD/JPY at 110.69, while USD/CHF slid 0.30% to 0.9597.

Elsewhere, the Australian and New Zealand dollars were stronger, with AUD/USD up 0.15% at 0.8010 and with NZD/USD advancing 0.48% to 0.7306.

Meanwhile, USD/CAD edged down 0.18% to trade at 1.2471.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.