The U.S. Dollar closed Monday’s session lower as U.S. government bond yields extended their downfall from last week amid ongoing fears of slowing global growth.
Moreover, solid economic data from Germany and relief over political developments stateside were incapable of preventing an extension of the fear and concern that triggered the S&P 500’s worst day since January.
The U.S. Dollar Index which measures the strength of Greenback against a basket of six major currencies fell by 0.1 percent to finish the session at 96.02.
Over in Europe, the single currency rose on Monday against the U.S. Dollar as a better-than-expected German business confidence survey relieved some fears about a recession. EURUSD closed the session at 1.12882.
Meanwhile, the Sterling fell against the Greenback after British Prime Minister Theresa May acknowledged there was not yet enough support to put her Brexit deal to a third vote, while parliament plotted to pull the process away from her government. GBPUSD closed the session at 1.31988.
Regarding Safe-havens, the Swiss Franc rose slightly against the U.S. Dollar to close Monday session at 0.99231 USDCHF. On the other hand, the Japanese Yen fell slightly against the Greenback to settle at 109.963 USDJPY.
Gold prices hit a three-week high on Monday supported by a weaker U.S. Dollar and as worries over global economic slowdown pushed investors into safe-haven assets.
Meanwhile, the Canadian Dollar rose against weaker U.S. Dollar on Monday, as investors are worried about slower growth prospects for the domestic and global economies. The USDCAD closed the session at 1.34009.
Over in Asia, the Aussie Dollar rose against stronger U.S. Dollar to end Monday’s session at 0.71108.
Cryptocurrencies finished Monday’s session in the red territories. Bitcoin, Litecoin, and Ethereum fell against the U.S. Dollar to close at 3872.00 BTCUSD, 55.8 LTCUSD, and 131.92 ETHUSD respectively.
The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects Gotinsiders.com current judgment and may change without notice. Users acknowledge and agree to the fact that, by its very nature, any investment in shares, stock options and similar and assimilated products is characterized by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.