On Monday, the Greenback traded higher vs. a basket of major currencies, but gains were limited by doubts over the Trump administration’s commitment at Davos 2018 business. The USD settled high after President Donald Trump said Thursday the U.S. currency would get “stronger,” appearing to contradict Mnuchin’s statement. On the release front, markets are awaiting the U.S. Core PCE price Index, which is expected to hit 1.5%.
The Single currency fell by 0.12% vs. the Greenback, to settle at $1.2412, down from the more than three year peaks of 1.2537 touched last Thursday. No major reports are due the Euro-zone today.
The Sterling pound declined by 0.33%, to settle at $1.4113.
Against the JPY, the USD rose by 0.10%, to settle at ¥1.4113, after touching a low of ¥108.28 yen on Friday, its lowest level since mid-September.
Early on Monday, Gold prices inched lower, pulling back from a 17-month high as the Greenback recovered slightly from last week's turbulence, backed by conflicting statements from the Trump administration at Davos 2018 business. Gold Futures - Feb 18 (GCG8), fell by 0.53%, to settle at $1,344.90.
Earlier today, oil prices declined as soaring North American production was seen weakening efforts led by OPEC and non-OPEC oil giant Russia to cut supplies.
Crude Oil WTI Futures - Feb 18 (CLG8) rose as much as 0.12%, to settle at $66.22, and Brent Oil Futures - Mar 18 (LCOH8) was down by 0.36% at $69.90.
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