The Dollar Index stays steady. The dollar index, which measures the greenback against a basket of six major currencies, held steady at 93.096, after slipping around 0.4 percent on Friday. Subdued U.S. inflation data released on Friday added to doubts as to whether the Fed would raise interest rates again this year, weighing on the dollar.
Investors Are Seeking For The Safe Haven Yen. The dollar edged higher against the yen on Monday, trading above last week’s near 4-month low, with rising tensions between the United States and North Korea seen as the key to the near-term outlook. The dollar is now close to the bottom of a 108 yen to 115 yen range. If tensions escalate further, then there would be an increased risk of a drop to levels below 108 yen
Gold Is Totally Dependent On The North Korea Situation. Gold hovered near a two-month high, benefiting from the U.S.- North Korean tensions and Friday’s weak U.S. inflation data. The dollar’s recent weakness was also seen to be helping gold.
By MEX Group Team
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