Market News
Dollar dented by economic worries; euro remains in favour - REUTERS
By Saqib Iqbal Ahmed
Summary
- Concerns rise about economic impact of Trump's tariffs
- US retail sales rebound moderately in February
- Euro near 5-month high after Germany agrees fiscal deal
- Yuan firm as Beijing takes steps to bolster consumption
NEW YORK, March 17 (Reuters) - The dollar hovered near a five-month low against the euro on Monday as investors worried about the economic fallout from U.S. President Donald Trump's protectionist trade policies.
The euro , which has advanced in recent sessions, lifted by hopes of a German fiscal deal, was 0.2% higher at $1.0906. The common currency was just shy of $1.0947 it hit last week, its highest since October 11.
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Currency markets have undergone a shift in recent months as traders re-evaluate their initial expectations that Trump's economic policies would both support the dollar and cause other currencies to weaken. The reassessment has prompted the dollar to retreat 6% against the euro since mid January.
Reporting by Saqib Iqbal Ahmed; Additional reporting by By Kevin Buckland and Alun John, Editing by Angus MacSwan
