Tuesday, March 2African Business News
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Tag: FX

Dollar slips after political wrangling slows rally

Dollar slips after political wrangling slows rally

Business
A dollar rebound faltered on Tuesday as political wrangling over a U.S. relief plan and the gloomy outlook weighed on the currency. After its worst month in a decade in July, the greenback started August on a firm note as some investors trimmed their short positions. That only carried it so far, and the dollar edged down 0.2% on Tuesday against a basket of currencies. =USD The euro – which gained 5% at the dollar’s expense in July – inched up on the day, last up 0.2% at $1.17875. EUR=EBS “I think the eurozone recovery will be a lot faster than the U.S. recovery and that growth differential will continue to drive EUR/USD higher,” Marshall Gittler, FX analyst at BDSwiss, said in a note. The Aussie dollar AUD=D3 edged ahead nearly 0.3% after the central bank delivered no su...