Dollar jumps as political risks in Asia and Europe persist

Dollar jumps

The US dollar had an impressive start on the week as it finished stronger against its major rivals amid the building geopolitical volatility in Asia and Europe, which cause declines to both the Japanese yen and the euro.

More Volatility

The US dollar index, which compares the greenback against a basket of six currencies, closed up 0.2% and was last trading at 101.69.

The Monday surge was driven by the ongoing political upheaval across the world, with concerns over the looming presidential election in France continued to spook investors as the French candidate Francois Fillon was called to withdraw from the race after his home was probed las week regarding the use of public money given to his wife and children for jobs suspected to be bogus.

The euro eased from its two-week as it dropped 0.35% versus the dollar and settled at 1.1.0584 per greenback.

The economic improvement in the Eurozone was not enough to lift the currency as pressure from elections in Germany and Netherlands also weighed in.

Against the Swiss franc, the dollar appreciated by 0.4% while the British pound stretched its losing streak and moved down to 1.2232 from 1.2297.

In Asia, markets were worried over the recently concluded four ballistic missiles test by the North Korea, which was done to send another message to President Donald Trump.

The Japanese yen succumbed to pressure and gave up 0.8% to end at 113.99 from 114.01 in the previous trading.


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