NEW YORK/LONDON—The dollar rose on Aug. 16 against commodity currencies such as the Australian and Canadian dollars, while the safe-haven yen gained at …
NEW YORK/LONDON—The dollar rose on Aug.16 against commodity currencies such as the Australian and Canadian dollars, while the safe-haven yen gained at a time of disappointing economic data from China, political tension in Afghanistan, and the spreading Delta virus weighing on risk appetite. The dollar’s gains came after recent losses from a slump in consumer sentiment on Friday, Aug.13, that weakened the U.S. unit. Against a basket of six major currencies, the greenback was little changed to slightly higher at 92.593, after it fell to a one-week low of 92.468 on Friday. Its gains were most pronounced against commodity currencies. The Aussie dollar was down 0.7 percent at $0.7323, while the New Zealand dollar fell 0.3 percent to $0.7040 ahead of a Reserve Bank of New Zealand’s policy meeting on Aug.
