Dollar Holds On To Two Week Gains – 21 January, 2019

Despite concerns over a slowing global economic growth and concerns over a weaker dollar in 2019, the U.S. currency has managed to hold near a two week high, supported by easing of U.S.- China trade tensions and strong industrial production numbers. The dollar index was steady against six major currencies at 96.388, having climbed to as high as 96.394 last Friday. Remaining close to its two week low of $1.1353, the euro edged up by a slight 0.2 percent to $1.1376. The pound and the Australian dollar both remained steady, with sterling resting at $1.2873 and the Australian dollar stuck to the 0.3 percent losses it experienced on Friday trading at $0.7155.