The dollar on Tuesday remained shackled by the prospects of monetary easing by t...
TOKYO - The dollar on Tuesday remained shackled by the prospects of monetary easing by the Federal Reserve while the safe-haven Swiss franc and gold were supported by simmering tensions between Washington and Tehran.
The dollar was on the defensive against the yen at 107.35 yen, a tad above Friday’s five-month low of 107.045. U.S. bond yields dropped on Monday, with money market derivatives increasing bets on a 50-basis-point rate cut next month. A 25-basis-point cut is already fully priced in. The dollar’s weakness was the most notable against traditional safe-haven assets, reflecting concerns about tensions between the United States and Iran.
The Swiss currency strengthened to near two-year highs against the euro to 1.1079 per euro, within touching distance of 1.1057 hit on Thursday, its highest since July 2017.Even the price of bitcoin held firm, staying near one-year high above $11,000.
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