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Dollar holds onto gains in light trade

Published 10/19/2015, 10:47 AM
© Reuters.  Dollar remains moderately higher vs. rivals
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Investing.com - The dollar held onto gains against the other major currencies in light trade on Monday, as sentiment on the greenback was still fragile after the release of mixed U.S. economic reports on Friday.

The dollar was higher against the euro, with EUR/USD down 0.22% at 1.1321.

The preliminary reading of the University of Michigan’s consumer sentiment index came in at 92.1 on Friday, compared to forecasts of 89 and up from 87.2 in September.

But another report showed that U.S. industrial production declined 0.2% in September, pressured lower by weakness in the oil and gas sector.

The dollar was steady against the yen, with USD/JPY at 119.39.

Demand for the safe-haven yen strengthened after data on Monday showed that China’s economic growth slowed to 6.9% in the third quarter, down from 7% in the previous quarter. The figure is the country's slowest growth rate since 2009.

A separate report showed that Chinese industrial production rose at a year-on-year rate of 5.7% in September, disappointing expectations for a 6.0% gain.

Elsewhere, the dollar was lower against the pound, with GBP/USD gaining 0.27% to 1.5482 and was higher against the Swiss franc, with USD/CHF edging up 0.18% to 0.9555.

The Australian dollar turned moderately lower, with AUD/USD down 0.10% to 0.7259, while NZD/USD held steady at 0.6808.

USD/CAD gained 0.42% to trade at 1.2966.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.17% at 94.92.

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