US Open Preview– Dollar on the backfoot; Auto shares drag European stocks lower
Posted on January 2, 2018 at 12:17 pm GMTHere are the latest developments in global markets: FOREX: The dollar was the worst performer among its major peers during early European trading hours as optimism on the Eurozone’s economic outlook and doubts over the effect of the US tax overhaul pushed the dollar index down to a three-month low of 91.75 (-0.29%). Euro/dollar approached a four-month peak at 1.2084 (+0.47%) and dollar/yen tumbled to 112.16 (-0.41%). Pound/dollar held strong above 1.35 (+0.30%) despite disappointing data on Markit UK manufacturing [..]