The dollar edged up against key peers such as the euro and the yen on Monday, bo...
TOKYO - The dollar edged up against key peers such as the euro and the yen on Monday, boosted by the relative strength of the U.S. economy, while losing ground against the Canadian dollar following a rise in crude oil prices.
The dollar was lackluster against the loonie as crude oil prices rose more than 2 percent following a Washington Post report the United States is likely to ask all importers of Iranian oil to end their purchases or will be subject to U.S. sanctions. [O/R] “Traders have mostly priced in the weakness of the euro zone economy by now,” Ishizuki said. “It’s a little bit difficult to see the euro weakening further from here, so I think it will be hard for the dollar to strengthen.”
In February, U.S. home sales surged to their highest in 11 months, as the housing market showed renewed momentum following a pause in interest rate hikes by the Federal Reserve. The Canadian dollar gained about a quarter of a percent to C$1.3360 on the back of the rise in crude oil prices following the Washington Post report.
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