The US dollar escalated Monday as the Chinese yuan stabilized, curbing woes a weaker yuan would press other nations to weaken their currency also.
For traders, this might prompt the Federal Reserve to delay interest rate hike this year.
The greenback stood at $1.1078 per euro and $1.5616 per British pound. Against the Japanese yen, the currency closed at ¥124.39.
A likely currency war among leading exporters in Asia won’t be something the US central bank “would want to be raising rates going into,” said Omer Esiner, Chief Market Analyst at Commonwealth Foreign Exchange.
The material has been provided by InstaForex Company – www.instaforex.com
The US dollar escalated Monday as the Chinese yuan stabilized, curbing woes a weaker yuan would press other nations to weaken their currency also.
For traders, this might prompt the Federal Reserve to delay interest rate hike this year.
The greenback stood at $1.1078 per euro and $1.5616 per British pound. Against the Japanese yen, the currency closed at ¥124.39.
A likely currency war among leading exporters in Asia won’t be something the US central bank “would want to be raising rates going into,” said Omer Esiner, Chief Market Analyst at Commonwealth Foreign Exchange.
The material has been provided by InstaForex Company – www.instaforex.com
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