Economic news

Dollar hovers near 18-month peak on safe-haven demand

The dollar traded not far off a 18-month top on Monday, supported by safe-haven buying as worries of a slowdown in global economy affected appetites for riskier assets such as shares and currencies across Asian region.

Photo: Reuters

The dollar index was firm at 97.44 .DXY, near 18-month peak of 97.71 it touched on Friday.

The greenback added 0.1 percent to trade at 113.48 yen. Interest rate differentials between the U.S. and Japan make the buck a more attractive bet than its Japanese peer.

The Australian dollar slipped slightly to $0.7174. It lost 0.3 percent of its value last week as economic figures showed Chinese November retail sales increased at the slowest pace since 2003 and industrial production grew the least in almost three years, underscoring risks to the economy.

The pound ticked down 0.02 percent to $1.2582 as Brexit assurances remained in focus.


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