Dollar holds its own as investors seek shelter

Dollar holds its own as investors seek shelter

The U.S. Dollar found broad support on Monday as global political uncertainty and fears over a widening of the Sino-U.S. trade war kept investors in safe havens. The Dollar was backed ahead of a slew of global economic indicators during the week.

The Greenback was steady against most major currencies and even gained against the riskier, trade-exposed currencies such as the Australian Dollar and the Chinese Yuan. The worst of the impact was taken by the New Zealand Dollar, falling half a percentage point in its weakest in more than 11 years.

“Risk-off sentiment is prevailing in the market,” said Anthony Doyle, global cross-asset specialist at Fidelity International in Sydney, citing U.S. political turmoil and Brexit as looming worries apart from the trade war.

“There’s a lot of uncertainty out there.” he said.