Forex — Dollar Holds steady with Geopolitical tension in focus

© Reuters. Dollar stable, with geopolitical tensions in the rocus — The dollar is stable, as fresh concerns over geopolitical risks, which have helped underpin the demand for the safe-haven yen held against a basket of other major currencies on Monday.

The US dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was at 93.62 04:32 ET (08:32 GMT), the down on Friday, more than two-month high of 94.10.

USD/JPY was last updated on 112.66, changed little for the day. On Friday, the dollar rose 113.43, the drag since July 14, before back.

The dollar turned lower on Friday following reports that North Korea is preparing to test a long-range missile, it is believed, could reach the west cost of the USA

The dollar had risen earlier than Friday of higher-than-expected wage growth in the U.S. employment report for September was as potentially increasing inflation.

The US economy lost 33,000 jobs in September, the labor Department reported on Friday, ending seven years of job growth. But the decline was due to a slower setting, due to the effects of hurricane Irma and Harvey.

The unemployment rate fell to 4.2%, the lowest since 2001, and average hourly wages rose by 2.9% from a year earlier.

The upward trend in the wage-inflation reinforced expectations that the Federal Reserve Hiking interest rates in December.

The euro was almost unchanged against the dollar, with EUR/USD at 1.1728.

The pound moved higher with the GBP/USD is advancing 0.35% at 1.3110.

The recovery came after sterling ended last week down almost 2.5%, the biggest weekly decline in more than a year, as concerns about business areas in British Prime Minister Theresa May, the government over Brexit weighed.

Elsewhere, the Turkish lira fell overnight, a diplomatic crisis between the U.S. and Turkey concoct to escalate.

USD/TRY was up 2.35% at 3.7016 to the most jump as high as 3.7487 overnight, since the middle of March.

The new Zealand dollar was trading near four-month low, to weigh in with NZD/USD last at 0.7075 as political uncertainty in the Wake of the last month of the election.

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