US dollar holding to gains

Business | 10 Jan 2020 9:51 am

The US dollar looked set to post its best week in two months today, buoyed by easing Middle
East tensions and upbeat U.S. economic data.
The greenback is 1.3 percent firmer on the yen for the week so far, and up by 0.6 percent against a basket of currencies, Reuters reports.
The yields on U.S. government debt are now above where they were before the January 3 drone strike that sparked fears of a broader conflagration. Higher bond yields support currency prices by attracting capital flows.
The dollar was steady at US$1.1105 per euro and US$1.3066 per pound. Against the yen it held at 109.53 yen per dollar, near a two-week high hit overnight. It sat near a three-week high on the New Zealand dollar at US$0.6611.

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