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The dollar and safe-haven currencies held firm but struggled to gain traction on Monday as shareholders remained anxious about the prospect of war in Europe and unsettled by soaring inflation.
The risk of war in Ukraine led the euro lower on Friday and it suffered losses, hitting $1.1346 on Monday, well below last week’s $1.1495.
The Russian ruble is struggling and has seen its biggest drop in two years, again due to the high tensions remaining between Russia and Ukraine.
The Australian and New Zealand dollars were also pinned below last week’s levels. The New Zealand dollar fell 0.5% to $0.6622 and the Australian dollar eased 0.2% to $0.7119. Australian jobs data due Thursday and risk pushed the Aussie dollar’s volatility gauges to new highs.
The yen rose to 115.53 yen from a five-week low of 116.34 last week.
“With Fed hike expectations rising again and geopolitical tensions in Ukraine escalating dramatically, the dollar index is likely to be back in the spotlight,” Westpac analysts said.
This Monday, European Central Bank President Christine Lagarde will address the European Parliament as well as St. Louis Fed President James Bullard, who shook the markets with controversial comments following last week’s inflation data.
The British pound held steady at $1.3542 on Monday as investors were confident that the Bank of England will raise rates next month and assess about a 40 percent chance of a 50 basis point increase.
Read also > STOCK MARKET : US EMPLOYMENT REASSURES, ASIAN STOCKS BELOW EXPECTATIONS
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The dollar and safe-haven currencies held firm but struggled to gain traction on Monday as shareholders remained anxious about the prospect of war in Europe and unsettled by soaring inflation.
The risk of war in Ukraine led the euro lower on Friday and it suffered losses, hitting $1.1346 on Monday, well below last week’s $1.1495.
The Russian ruble is struggling and has seen its biggest drop in two years, again due to the high tensions remaining between Russia and Ukraine.
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The dollar and safe-haven currencies held firm but struggled to gain traction on Monday as shareholders remained anxious about the prospect of war in Europe and unsettled by soaring inflation.
The risk of war in Ukraine led the euro lower on Friday and it suffered losses, hitting $1.1346 on Monday, well below last week’s $1.1495.
The Russian ruble is struggling and has seen its biggest drop in two years, again due to the high tensions remaining between Russia and Ukraine.
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