Dollar finds footing on strong U.S. economy, euro slides
The dollar firmed against the euro on Monday as a cautious market mood urged investors to seek safety. A promising U.S. economic recovery and speedy vaccine rollouts also supported the dollar.
The euro fell 0.1% to $1.1783 in Asian trade, not far above last week’s low of $1.1762 and right below its 200-day moving average of $1.1866.
The safe-haven yen rose from a 10-month low hit on Friday and traded 0.2% higher to 109.43. The dollar suffered from a 0.7% loss against the pound, a 0.8% rise against the Aussie, and a 2.9% gain on the kiwi.
The Aussie fell 0.3% to $0.7621 on Monday and the kiwi lost 0.3% to $0.6978. The pound dropped 0.2% to $1.3767.
U.S. unemployment claims slid to a one-year low last week, while President Joe Biden said he would double his vaccination goal.