The dollar held near a two-week high against its key rivals on Tuesday, underpin...
TOKYO - The dollar held near a two-week high against its key rivals on Tuesday, underpinned by a resilient economy and a flagging euro ahead of an upcoming European Central Bank policy meeting.
The euro in particular remained wobbly before the ECB meeting on Thursday. The ECB is facing growing pressure to address how to protect the euro zone economy from a protracted slowdown. Although benchmark U.S. Treasury yields pulled back from peaks seen in late January, underlying demand for the dollar remained solid in a sign of confidence over the economic outlook.
“The dollar firmed, stocks fell and U.S. Treasuries rose in the broader market, and we are bound to see the dollar gain against some currencies while slipping against others in such a situation,” said Shin Kadota, senior strategist at Barclays. The Australian dollar was almost flat at $0.7089 after scraping out a 0.2 percent gain overnight on expectations for further easing of trade tensions between the United States and China.
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