Dollar Edges Higher on Eurozone Concerns
October 22 2018 - 3:59PM
Dow Jones News
By Ira Iosebashvili
The dollar edged higher Monday, as investors fretting over the
eurozone economy sought shelter in the U.S. currency.
The WSJ Dollar Index, which measures the U.S. currency against a
basket of 16 others, was recently up 0.3% at 90.20. The euro,
meanwhile, was down 0.4% at $1.1468.
Italy's government pledged to press on with its spending plans
Monday, despite warnings by the European Union that its proposed
budget would violate the bloc's fiscal rules. The move could lead
the EU to reject the Italian coalition government's budget and
imposing fines on the country.
Meanwhile, worries over slowing growth in China sent investors
out of emerging-market currencies. The dollar was recently up 0.7%
against the Mexican peso and gained 0.1% against the Korean
won.
Chinese officials last week rushed to reassure investors that
the country's economic fundamentals are solid, despite slowing
growth and recent stock-market declines.
Write to Ira Iosebashvili at ira.iosebashvili@wsj.com
(END) Dow Jones Newswires
October 22, 2018 16:44 ET (20:44 GMT)
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