Dollar broadly higher to start the week

Perhaps in a sign that risk appetite is waning in global financial markets, the U.S. dollar was spotted higher against nearly all of its major rivals during Monday’s Asian session.

In Asian trading Monday, EUR/USD fell 0.17% to 1.3341. The euro has been giving up recent gains against the greenback following data released last week that showed that euro zone gross domestic product contracted by 0.6% in the three months to December, compared to expectations for a 0.4% decline. Economists view two consecutive quarters of GDP contraction as a sign a region’s economy is in recession.

USD/JPY surged 0.63% to 94.10 following the conclusion of the two-day G20 meeting in Moscow. While taking a strong stand against currency manipulation, G20 officials indicated they will allow the yen to continue sliding as long as Japanese officials and policymakers do not make public statements to push the currency lowerContinue Reading...