Economic news

Dollar index breaches 6-month peak on trade relief

The U.S. dollar extended its rally on Monday, with a key dollar index breached its top since late last year, as investors cheered trade talks between two world's largest economies.

The ICE U.S. Dollar Index DXY ticked up 0.1 percent to 93.747, after earlier hitting a peak for 2018.

The index advanced 1.2 percent last week, its best weekly performance since one ending April 27. The WSJ Dollar Index was 0.1 percent higher at 87.27, after surging 1 percent last week.

The euro was virtually flat at $1.1771, reversing earlier losses.

Sterling slumped to $1.3425, compared with $1.3466 late Friday. The British currency is now trading at its trough since late December.

Versus the Japanese yen the greenback surged to 111.22, from 110.75 late Friday.

The Canadian dollar gained 0.3 percent to C$1.2855.


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