The dollar was little-changed against a basket of currencies on Monday as tumbling oil prices pressured oil-linked currencies and as investors awaited the outcome of a European Union summit this week on how to tackle economic fallout from the novel coronavirus crisis.
The US Dollar Currency Index, which measures the greenback's strength against six major currencies, was down 0.08% at 99.76. The index has pulled back from the three-year high of 102.97 hit in mid-March as the rapid deployment of monetary stimulus measures by the US Federal Reserve eased the strain on dollar funding.
Oil-linked currencies were weaker with the US dollar 0.36% higher against its Canadian counterpart, while Norwegian krone and Mexican peso lost about 1.3% against the greenback. The euro was about flat against the greenback.
The New Zealand dollar held its own against the greenback, rising 0.8% after the country said it will lower its alert level one notch next Monday - allowing some businesses to resume - and review that stance on May 1.
Comments
Comments are closed.