Investing.com - The U.S. dollar traded lower against most of its major rivals during Monday’s Asian session as traders sought out safe-haven alternatives to the greenback amid an ongoing government shutdown in the world’s largest economy.
In Asian trading Monday, EUR/USD rose 0.10% to 1.3569. Last week, Italian Prime Minister Enrico Letta survived a vote of confidence in parliament on Wednesday, after Silvio Berlusconi dropped his opposition to the coalition, in a surprise U-turn.
The euro was also supported after the European Central Bank left interest rates on hold at 0.5% on Wednesday, in a widely expected decision. There are no major euro-related data points scheduled for Monday, but on Tuesday, Germany will release official data on industrial production, a leading indicator of economic health.
USD/JPY lost 0.32% to 97.15 on what appears to be continued safe-haven buying in the yen. Last week, Bank of Japan Governor Haruhiko Kuroda warned that the U.S. budget deadlock and fears over the threat of a possible U.S. default could destabilize financial markets. The yen gained 0.93% last week against the greenback.
GBP/USD rose 0.22% to 1.6046. Some traders are speculating the pair could rise to 1.6200 on improving economic data and a potentially more hawkish Bank of England.
USD/CHF lost 0.28% to 0.9048. The franc rebounded after Switzerland's banking regulators said they are conducting investigations into several Swiss banks over allegations that foreign exchange rates may have been manipulated. That news was revealed last week.
USD/CAD rose 0.06% to 1.0303 as oil prices drifted lower. AUD/USD inched up 0.02% to 0.9435. Markets in Australia are closed today for a public holiday.
NZD/USD fell 0.17% to 0.8306 while the U.S. Dollar Index shed 0.15% to 80.12.
In Asian trading Monday, EUR/USD rose 0.10% to 1.3569. Last week, Italian Prime Minister Enrico Letta survived a vote of confidence in parliament on Wednesday, after Silvio Berlusconi dropped his opposition to the coalition, in a surprise U-turn.
The euro was also supported after the European Central Bank left interest rates on hold at 0.5% on Wednesday, in a widely expected decision. There are no major euro-related data points scheduled for Monday, but on Tuesday, Germany will release official data on industrial production, a leading indicator of economic health.
USD/JPY lost 0.32% to 97.15 on what appears to be continued safe-haven buying in the yen. Last week, Bank of Japan Governor Haruhiko Kuroda warned that the U.S. budget deadlock and fears over the threat of a possible U.S. default could destabilize financial markets. The yen gained 0.93% last week against the greenback.
GBP/USD rose 0.22% to 1.6046. Some traders are speculating the pair could rise to 1.6200 on improving economic data and a potentially more hawkish Bank of England.
USD/CHF lost 0.28% to 0.9048. The franc rebounded after Switzerland's banking regulators said they are conducting investigations into several Swiss banks over allegations that foreign exchange rates may have been manipulated. That news was revealed last week.
USD/CAD rose 0.06% to 1.0303 as oil prices drifted lower. AUD/USD inched up 0.02% to 0.9435. Markets in Australia are closed today for a public holiday.
NZD/USD fell 0.17% to 0.8306 while the U.S. Dollar Index shed 0.15% to 80.12.