Dollar Rises To 16 Month High – 12 November, 2018

Fears of a global economic slowdown, trade tensions, and uncertainties in Europe caused investors to flock to the safe haven dollar, helping it reach just below a 16 month high against a basket of major peers. Ongoing U.S. and China trade tensions, as well as a disagreement between Rome and the European Union over Italy’s deficit budget. The dollar index was just shy of a 16 month high of 97.69, trading at 97.60. The yen did however gain against the dollar, trading at 113.66 as the greenback dipped 0.16 percent against the yen.