Currency – The dollar is retreating after the attack in Syria


© Reuters. The dollar is retreating after the attack in Syria

Investing.com – The dollar was broadly lower face to a basket of currencies on Monday, on the hope that the missile strike conducted by the United States on Syria on Friday would not result in an escalation of the more important of the conflict.

The dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.3% to 89,24 at 05:57 AM (09:57 AM GMT).

Market sentiment has been supported by the relief that the strikes in Syria, has not given rise to reprisals from Russia, the main ally of Syria, but the markets remained on the alert for any sign of immediate military escalation of the conflict.

Investors also remained cautious while the United States was ready to announce a new series of economic sanctions against Russia related to its involvement in the use of chemical weapons by Syria.

The military strikes have been made in response to an alleged attack of chemical weapons against civilians in Damascus and have been the largest intervention ever conducted by western countries against syrian president Bashar al-Assad.

The dollar was down against the yen, with the USD / JPYen decrease of 0.21% 107,17. The yen refuge is often sought in times of market turmoil and political tensions.

The euro has risen higher against the dollar, with a rise of 0.32% to 1,2368.

The book has reached heights of ten weeks, with the GBP / USD rising 0.51% to 1,4310, against a backdrop of anticipation of a rate hike by the Bank of England as early as next month.

Investors turn to the latest jobs report in the United Kingdom on Tuesday, followed by inflation on Wednesday and retail sales on Thursday, which could strengthen expectations of a rate increase.

Elsewhere on the economic calendar, the U.s. should publish data on retail sales later in the day.

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