Monday, 12 March 2018 16:31 WIB | CURRENCIES |DOLLAR Yen EuroDolar ASAussiePoundsterling
The euro gained on Monday and the dollar dropped as last week™s strong U.S. jobs numbers and receding fears over a trade war helped a rebound in risk appetite, with higher yielding currencies also performing well.
With little crucial economic data due in Europe, traders will focus on a meeting of the euro zone finance ministers on Monday for any comments on trade protectionism after President Donald Trump™s decision to impose some tariffs.
The euro rose to $1.2328, up 0.2 percent. The single currency, after a strong start to 2018, remains below the three-year peak hit in February of $1.2556.
The dollar, which has tended to fall when risk appetite is rising, meanwhile fell. The greenback against a basket of currencies dropped 0.1 percent.
Higher-yielding currencies like the Australian and New Zealand dollars also rose, while sterling gained 0.2 percent to trade at $1.3871.
The yen, which tends to perform well when markets are anxious, gained as traders eyed a suspected Japan cronyism scandal involving the sale of state-owned land for its impact.
The dollar eased 0.3 percent to 106.51 yen, edging away from a one-week high of 107.05 yen set on Friday.