Dollar Firmed with Ally Strike On Syria

US Dollar Reports

The dollar stood firm on Monday as it hovered near a two-month high against the yen, all because the market gained some clarity after the military strikes on Syria by the United States and its allies over the weekend.

The United States and its allies, France and Britain, launched missiles targeting what the Pentagon said were chemical weapons facilities in Syria on Saturday, in retaliation for a speculated poison gas attack on April 7.

Support for Prime Minister Abe which was plagued by accusations of cronyism and cover-ups, dropped to 26.7 percent in a survey by private broadcaster Nippon TV released on Sunday. This was the lowest since he took office in December 2012.

The U.S. currency was up 0.2 percent at 107.515 yen after the military intervention. A rise above Friday’s high of 107.780 yen would take the dollar to its highest since Feb. 22.

The dollar index against a basket of six major currencies was up by a shade at 89.807.

The euro was nearly flat at $1.2332 after ending Friday with very little change. The pound ended up trading at $1.4244 after rising to a near three-month high of $1.4296 on Friday.

The Australian dollar traded flat at $0.7770 and the New Zealand dollar went down 0.05 percent to $0.7348.

The Hong Kong dollar traded at 7.8499 per dollar, continuing to hover close to the weak end of its trading band of 7.85.

FAQs

Leave a Reply

Your email address will not be published. Required fields are marked *