Forex

Dollar edges lower, gives up earlier gains

2020-01-13 21:15:45 GMT (Economies.com)

The US dollar inched lower Monday, to erase its earlier gains, as investors eschewed safe havens such as the greenback and precious metals in favour of stocks.

 

Multiple news reports revealed that the US Treasury will lift its designation of China as a manipulator of its currency exchange rate, which is many experts saw as a positive move.

 

This comes amid widespread anticipation for the signing of the phase-one trade agreement between the US and China, which will be followed immediately by negotiations for the phase-two.

 

The US Department of Labor unveiled last week that the economy has added 145,000 new jobs in December, lower than forecasts of 162,000.

 

The dollar index held against a basket of major currencies at 97.3 points as of 19:19 GMT, and hit a day high of 97.5 and a low of 97.3.

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