Arab Today, arab today dollar advances on ukraine tensions
Last Updated : GMT 09:10:47
Arab Today, arab today
Arab Today, arab today

Dollar advances on Ukraine tensions

Arab Today, arab today

Arab Today, arab today Dollar advances on Ukraine tensions

New York - XINHUA

The U.S. dollar advanced against most major currencies on Monday as investor rushed into safe-haven assets amid intensifying Ukraine crisis. Russia's move on Saturday to authorize President Vladimir Putin to send military force to Ukraine has sent a chill across global markets, prompting jittery investors to flee to traditional haven assets, such as gold, U.S. Treasury and dollar. The U.S. manufacturing activity expanded in February for the ninth consecutive month, with the index registering 53.2, up from January's reading of 51.3, the Institute for Supply Management said Monday. Moreover, U.S. personal income increased 0.3 percent in January, while personal consumption expenditures rose 0.4 percent, the Commerce Department said in a separate report Monday. In the previous session, the dollar fell after the U.S. real gross domestic product (GDP) in the fourth quarter of last year was downgraded from initial estimate, though largely because of the cold weather. The GDP growth rate estimate for the fourth quarter was cut from 3.2 percent to 2.4 percent, according to the Commerce Department. Meanwhile, economic data out of the United States came in generally positive. Official estimate of eurozone inflation released last week beat market forecast, cooling down speculations that the European central bank would take more easing measures at its policy meeting on Thursday. In late New York trading, the euro slipped to 1.3734 dollars from 1.3820 dollars of the previous session, and the British pound decreased to 1.6659 dollars from 1.6758 dollars. The Australian dollar climbed to 0.8929 dollars from 0.8927 dollars. The dollar bought 101.43 Japanese yen, lower than 101.76 yen of the previous session. The dollar moved up to 0.8834 Swiss francs from 0.8785 Swiss francs, and it went up to 1.1081 Canadian dollars from 1.1068 Canadian dollars.

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