Dollar Steady At 3 1/2 Week High – 21 May, 2019

The dollar reached at a 3 1/2 week high, supported by an ease in trade restrictions with China, though tariff negotiations are still fragile. The dollar index briefly brushed a 3 1/2 week week high overnight at 98.134 before settling at 98.031, with the index gaining 1.9% this year. Against the yen, the dollar hit a two week high during the previous session at 110.675 and remained almost steady at 110.49 yen. The Australian dollar dipped to $0.6881, while the euro was roughly unchanged at $1.1162, giving up a total of 9% since May 1. The pound was just above a four month low of $1.2715 after hitting a low of $1.2685.