US dollar holds on to week's gain, pound low

Business | 8 Nov 2019 9:43 am

The US dollar held on to its gains versus the yen and the Swiss franc today as a China-U.S. agreement to roll back tariffs on each others’ goods supported riskier assets, even as some reports suggest a preliminary trade pact is far from a done deal, Reuters reports.

The dollar index against a basket of six major currencies stood at 98.136, up by 1 percent this week.

The dollar held steady at 109.34 yen in Asia today, close to a five-month high, and is headed for a 1.1 percent gain for the week.

The greenback edged higher to 0.9953 Swiss franc, on course for a 1 percent gain.

The UK pound traded a US$1.2815, close to the lowest since October 24. 

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