Dollar Higher on Trade Optimism – 25 September, 2019

Hints of progress towards a trade deal between the U.S. and China helped the dollar find support, sidestepping the dip caused by the President Trump  impeachment inquiry. In its daily sharpest gain in three months, the dollar index held just under a two week high of 98.959. Against the euro, the dollar was steady near a two week high at $1.0951. It held near a three week high against the Australian dollar at $0.6749. Sterling dropped 1% to $1.2359 as investors took Brexit and election risks into consideration. The offshore yuan fell 0.3% overnight and was steady during the day at 7.1278.