US dollar gains as Ukraine, Iraq fester

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IOL world currency1 Graphic: Renjith Krishnan.

New York - The US dollar headed higher against the euro and yen Monday as the Ukraine and Iraq conflicts festered and traders remained on the watch for significant economic signals for the market.

The dollar gained steadily, to $1.3383 (R14.28) per euro, with the euro's weakness underscored by ongoing worries over a possible Russian military incursion into eastern Ukraine.

“Today might not be the day for sustained heavy trading, as a lack of developments along any of the major conflict points in the world right now has paralysed market participants with anticipation,” said Christopher Vecchio, a currency analyst at DailyFX.

“A similarly devoid economic calendar out of the United States for the first two days of the week also looks to weigh on volatility still.” - Sapa-AFP

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