Yahoo Finance Forex- Dollar Rises as Geopolitical Tensions Ease
Investing.com - The U.S. dollar rallied on Friday as geopolitical tensions eased.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.39% to 94.09 as of 11:13 AM ET (15:13 GMT).
On Friday North Korean leader Kim Jong Un said he was still open to talks after the White House said in a statement that it would be "inappropriate" to have a planned summit at this time. Trump and Kim Jong Un were set to meet in Singapore on June 12 to discuss possible denuclearization.
Trading is expected to be thin on Friday, as the markets close on Monday for the Memorial Day holiday.
The dollar seemed unmoved by disappointing economic data. Durable goods in the U.S. fell 1.7% in April, compared to expectations of a 1.4% decrease while a separate report showed that the University of Michigan Consumer Sentiment index was revised down to 98.0 from 98.8.
The dollar was up against the safe haven yen, with USD/JPY rising 0.12% to 109.37.
Meanwhile sterling was slightly lower after data showed the annual UK economy was unrevised at 1.2%. GBP/USD fell 0.44% to 1.3319.
The euro was held back by economic and political worries in Europe.Spain’s main opposition group filed a no-confidence motion against Prime Minister Mariano Rajoy after a judge ruled against the governing Popular Party for corruption charges. The EUR/USD was down 0.45% to 1.1666.
Elsewhere, the Australian dollar was lower, with AUD/USD down 0.22% to 0.7559 while NZD/USD fell 0.04% to 0.6922.
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