The Dollar rose against a basket of other currencies on Monday for the fourth session in a row.

The Dollar rose against a basket of other currencies on Monday for the fourth session in a row.

October 2, 2018 0 By Ali Hwary

The Dollar rose against a basket of other currencies on Monday for the fourth session in a row. The rise in the Dollar was supported by the higher United States Treasury yields and the Euro that tumbled regarding the concerns on Italy’s budget deficit.

The U.S. Dollar index rose by 0.22 percent against the basket of six major currencies on Monday, to trade at 94.91 at the close.

In Europe, the Euro fell for the fourth consecutive session against the Greenback on Monday, as the concerns regarding Italy’s budget weighed on the currency. The EURUSD fell by 0.39 percent to close the session at 1.15778.

However, in the United Kingdom, the Sterling Pound rose by 0.09 percent against the Greenback on Monday’s session to close the session at 1.30415. The Pound was boosted by reports saying that Britain is preparing to make a substantial offer to the European Union to reach a Brexit deal.

Regarding safe-havens, the Greenback rose against the Japanese Yen and the Swiss Franc on Monday; the USDJPY advanced by 0.17 percent to close the session at 113.889, the Yen was weighed by the deal that was made by the United States and Canada regarding NAFTA. Furthermore, the USDCHF rose for the sixth consecutive session by 0.17 percent to settle up at 0.98354.

The precious metal Gold prices tumbled on Monday’s trading session, losing around 0.27 percent to close the session in the red at 1188.80 XAUUSD.

Elsewhere in Canada, the Dollar fell for the second session in a row against the Loonie Dollar on Monday. The USDCAD tumbled by 0.29 percent to close at 1.28126.

In Asia, both Aussie and Kiwi advanced against their U.S. counterpart to close the session on positive notes at 0.72207 AUDUSD and 0.66152 NZDUSD.

In Cryptocurrencies pace, Bitcoin and Ethereum tumbled against the Greenback to finish lower at 6519.71 BTCUSD and 226.27 ETHUSD, while Litecoin advanced moderately to settle up 58.45 LTCUSD.

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