FOREX-Trade disputes, German politics kick euro lower

as mentioned in ADVERTISEMENTThe single currency also received a setback after German Chancellor Angela Merkel was dealt a fresh blow when her interior minister offered to quit in an escalating row over migration policy. On Monday, the single currency fell 0.5 percent at $1.1633 in early London trading. Chinese stock markets fell 2.5 percent while its currency sank to more than seven-month lows as investor concerns grew about a widening trade conflict. ADVERTISEMENTThe dollar extended its gains against the yen to hit a fresh six-week high of 111.06 yen. The Japanese currency was unmoved by the Bank of Japan's tankan business sentiment survey, which showed a slight dip in big Japanese manufacturers' sentiment.

FOREX-Dollar dips, euro steadies after German coalition partners resolve row

The euro was little changed at $1.1630 after shedding 0.45 percent overnight. ADVERTISEMENTThe dollar remained broadly supported, meanwhile, as trade tensions propped up the greenback against commodity currencies, like the Australian dollar, and emerging market currencies whose economies are most vulnerable to a downturn in trade. "There's a strong element of 'risk off' generated by trade concerns behind the dollar's latest rise. That said, the dollar has managed to gain only as emerging market and commodity currencies have slid due to risk aversion," said Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo. In a widely expected move the RBA left its cash rate at 1.5 percent on Tuesday following its policy meeting.

FOREX-Dollar rally sputters as euro rises after German data

As it stated in While the greenback's recent rally, which vaulted the dollar index to a near one-year high overnight, may have paused, its longer-term trend was still bullish, said Trang. ADVERTISEMENTThe euro edged higher against the dollar as data showed German inflation surpassed the target set by the European Central Bank for the euro zone in June. European Union leaders meet in Brussels for two days of talks on migration that German Chancellor Angela Merkel described as "make or break" for the union. Overall, currencies remained rangebound on Thursday as mixed signals on the trade dispute between Washington and its trading partners kept sentiment subdued. Trade-related worries sent the yuan to a fresh seven-month low against the dollar.

collected by :John Locas