MW: Dollar edges up against yen, euro as conflict eases
By Ben Eisen, MarketWatch
NEW YORK (MarketWatch) — The U.S. dollar edged up against the Japanese yen and the euro on Monday as investor concerns about global warfare eased.
The U.S. dollar USDJPY -0.07% bought ¥102.10 on Monday, versus ¥102.07 late Friday. The euro EURUSD -0.21% traded at $1.3392, down slightly from $1.3413. Sterling traded at $1.6790, compared with around $1.6775 late Friday.
The U.S. dollar index DXY -0.17% , which tracks the greenback against a basket of its rivals was at 81.389, up slightly from 81.386 on Friday.
Global conflict has been the key focal point for investors in recent weeks as Ukraine and Russia edged closer to conflict, fighting has taken place on and off in Gaza, and the U.S. launched airstrikes in Iraq. On Monday, a 72-hour cease fire in Gaza brought some calm. (Read full war coverage stream here .)
That helped push U.S. stocks higher and Treasury prices lower.
Here’s what else investors are watching this week:
Federal Reserve Vice Chairman Stanley Fischer said that the jury is out on whether U.S. economic growth has permanently slowed down . The remarks mark his first public economic comments since becoming second in command at the central bank.
On the economic news front, investors are watching for retail sales on Wednesday, as well as producer price index and industrial production on Friday. See the full economic calendar.
Robert Savage of Track Research writes in a note: “There is no major U.S. news today — and this leaves markets likely looking for momentum from earnings or politics to drive.”
