Forex Dollar Vs Modified. Rivals in Quiet trade





Dollar index is holding steady near 10-week highs

Investing.com — The dollar was little-weeks-highs changed at 10-against other major counterparts in quiet trade on Monday, as hopes of a December interest rate increase by the Federal Reserve lent is still support for the greenback, while geopolitical concerns weighed.

Trading volumes were expected to remain thin with U.S. markets Columbus Day closed.

The greenback remained supported since the wage data was from the Friday of the U.S. employment report as a potential increase in inflation.

The US economy lost 33,000 jobs in September, the labor Department reported, 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 yen held steady, with USD/JPY at 112.63, while USD/CHF slipped 0.20% to trade 0.9778.

Safe-haven demand slightly strengthed following reports of North Korea preparing to test a long-range missile, it is believed, could reach the west cost of the USA

Elsewhere, EUR/USD was little, the seven-weeks changed at 1.1740, just from Friday to a low of 1.1668 amid the ongoing political tensions in Spain.

Hundreds of thousands of protesters gathered in the capital of Catalonia Barcelona over the weekend to protest against the local independence movement.

GBP/USD gained 0.47% to trade at 1.3128, Friday, the four-week low of 1.3027 before the fifth round of the Brexit talks between the UK and the EU in Brussels this week.

The lectures will take place amid growing concern about a possible leadership battle in the UK following threats by a former Conservative party Chairman request the support of 30 legislators to topple the British Prime Minister, Theresa May.

The Australian and the new Zealand Dollar was lower, with AUD/USD down 0.17% to 0.7753, and with NZD/USD shedding 0.18% to 0.7076.

Meanwhile, USD/CAD rose slightly by 0.08% at 1.2539, not far from Friday’s high of 1.2599.

The US dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 93.56 from 05:25 a.m. ET (09:25 GMT), still close to Friday 10-week high of 94.10.



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