Dollar gains ground after new Zealand, the German elections
Investing.com — The dollar edges higher against other majors currencies on Monday, as the markets were recovering from the weekend elections in Germany and new Zealand, to decline while the concern about the tensions between the United States and North Korea seemed to be.
EUR/USD lost 0.24% to 1.1927, such as the German Bundestag election on Sunday showed the growing support for extreme right-wing party.
German Chancellor Angela Merkel won a fourth term on Sunday, but will have to build, to form a coalition government, as the Conservative support in the face of a rise in anti-immigration Alternative for Germany (AfD) is lost.
GBP/USD added 0.13% to trade at 1.3550, recovering from moderate losses on Friday after UK Prime Minister Theresa May gave some new clues as to how the Brexit will be continued.
May proposed a transition period of approximately two years after the UK leaves the European Union, during which time access to the single market to the current conditions.
According to may, the speech, Rating Agency Moody’s downgraded Britain’s credit rating of Aa2, upgraded to say the government’s plans to reduce the debt, had already knocked off course and Escape, a burden on the economy.
Elsewhere, USD/JPY dipped 0.13% edged higher and the USD/CHF added 0.12% to 0.9704, as the markets recovered from North Korea’s threats of last week, the conduct of nuclear tests in the Pacific.
The kiwi was significantly lower, with NZD/USD down 0.99% on 0.7268 after no single party won a majority in the new Zealand election over the weekend.
The ruling National party won the votes of the greatest number, but neither of the major parties to win enough seats for a majority in Parliament, so that a round of coalition negotiations in the last days or weeks.
The US dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, wasup 0.09% 92.02 02:15 PM ET (06:15 GMT).