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Singapore, May 19 (QNA) – The dollar found support at the start of Asian trading on Tuesday after US President Donald Trump said he had paused a planned attack against Iran to allow negotiations and bond markets stabilized after a two-day selloff.
The US dollar index, which measures the greenback’s strength against a basket of six currencies, held steady at 99.026, attracting bids after easing fears of an escalation in the war pushed the gauge 0.3% lower on Monday, snapping a five-day winning streak.
The dollar had gained strength during the past week as a safe haven from an escalation of the war in the Middle East and a selloff gripping global bond markets.
Against the yen, the US dollar was flat at 158.895 yen after government data showed on Tuesday that Japan’s economy grew by an annualized 2.1% in the first quarter, compared with the median market forecast for a 1.7% gain.
The euro was flat at $1.1650, while the British pound was down 0.1% at $1.3427.
The Australian dollar was 0.1% lower at $0.7164, while its kiwi counterpart slid 0.1% to $0.5868.
Against the Chinese yuan, the US dollar held steady at 6.798 yuan in offshore trade. (QNA)
