{"id":111393,"date":"2021-04-07T01:25:23","date_gmt":"2021-04-07T01:25:23","guid":{"rendered":"https:\/\/fin2me.com\/?p=111393"},"modified":"2021-04-07T01:25:23","modified_gmt":"2021-04-07T01:25:23","slug":"dollar-steadies-after-mondays-drop-euro-struggles-near-1-18","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/dollar-steadies-after-mondays-drop-euro-struggles-near-1-18\/","title":{"rendered":"Dollar steadies after Monday's drop; euro struggles near $1.18"},"content":{"rendered":"

LONDON (Reuters) – The dollar steadied on Tuesday after posting its biggest drop in three weeks during the previous session as investors consolidated positions following a recent rally.<\/p>

FILE PHOTO: Rolled Euro banknotes are placed on U.S. Dollar banknotes in this illustration taken May 26, 2020. REUTERS\/Dado Ruvic\/Illustration\/File Photo<\/figcaption>

The dollar has risen this year, along with Treasury yields, as investors bet the United States would recover faster from the pandemic than other developed nations, amid massive stimulus and aggressive vaccinations. At 2.5%, March\u2019s was the biggest monthly gain for the dollar since the end of 2016.<\/p>\n

But April got off to a weak start for the dollar as hedge funds cut their long positions, despite Friday\u2019s stronger-than-expected monthly payrolls data.<\/p>\n

The dollar index sank as low as 92.527 in Asia, its weakest since March 25. The U-turn comes less than a week after it hit an almost five-month top at 93.439.<\/p>\n

In early London trading, the dollar advanced 0.14% to 92.70. On Monday, it fell 0.43%, its biggest single-day drop since March. 17, according to Refinitiv data.<\/p>\n

Commerzbank strategists said the latest weakness in the dollar is a sign that the U.S. reflationary advantage versus other major economies is running out of steam and more evidence is required for the dollar to rise higher.<\/p>\n

Benchmark 10-year Treasury yields extended their retreat on Tuesday, dipping below 1.7% early in early London trading from a peak of 1.776% last week – a level not seen since January of last year.<\/p>\n

\u201cThe USD level has now outstripped the pickup in non-U.S. growth expectations,\u201d meaning \u201cthere\u2019s room for a USD pause\u201d in its recent uptrend, Mark McCormick, the global head of foreign-exchange strategy at TD Securities, wrote in a client note.<\/p>\n

The pause in the dollar\u2019s drop also undercut the euro\u2019s advances. It struggled to hold above $1.18, with pandemic-linked activity casting a shadow over the near-term economic outlook.<\/p>\n

Elsewhere, the Australian dollar, considered a proxy for risk appetite, slipped to $0.76415 on Tuesday, after rallying 0.8% to start the week. The Reserve Bank of Australia left policy unchanged on Tuesday, as expected.<\/p>\n

The cryptocurrency market capitalization reached a peak of $2 trillion on Monday, according to data and market trackers CoinGecko and Blockfolio. Gains over recent months attracted demand from both institutional and retail investors.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

LONDON (Reuters) – The dollar steadied on Tuesday after posting its biggest drop in three weeks during the previous session as investors consolidated positions following […]<\/p>\n","protected":false},"author":3,"featured_media":111392,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nDollar steadies after Monday's drop; euro struggles near $1.18 - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/dollar-steadies-after-mondays-drop-euro-struggles-near-1-18\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dollar steadies after Monday's drop; euro struggles near $1.18 - Fin2me\" \/>\n<meta property=\"og:description\" content=\"LONDON (Reuters) – The dollar steadied on Tuesday after posting its biggest drop in three weeks during the previous session as investors consolidated positions following [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/dollar-steadies-after-mondays-drop-euro-struggles-near-1-18\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-07T01:25:23+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/04\/cnewsfotor1446.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/dollar-steadies-after-mondays-drop-euro-struggles-near-1-18\/\",\"url\":\"https:\/\/fin2me.com\/markets\/dollar-steadies-after-mondays-drop-euro-struggles-near-1-18\/\",\"name\":\"Dollar steadies after Monday's drop; 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