Forex – Dollar Hits 9-Week Highs as Euro, Sterling Slump

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Investing.com – The dollar rose to nine-week highs against a currency basket on Wednesday as the euro slumped on disappointing euro zone data while the pound was pressured lower amid persistent investor anxiety over Brexit.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was up 0.5% to 96.19 by 08:30 AM ET (12:30 GMT).

The euro extended early losses, with EUR/USD down 0.69% to 1.1392, the lowest level since August 17.

The single currency weakened after data showing that euro zone private sector activity grew at the slowest pace in more than two years in October, as an export-led slowdown widened out to the service sector.

The data highlighted concerns over the economic impact of tariffs and trade wars.

Read more at : https://www.investing.com/news/forex-news/forex–dollar-hits-9week-highs-as-euro-sterling-slump-1657499

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