U.S. Dollar Shows Modest Move Back To The Upside
2024-08-23
2301
(fxcue news) - Following the steep drop seen last Friday, the value of the U.S. dollar has seen a modest rebound during trading on Monday.
The U.S. dollar index has risen 0.18 points or 0.2 percent to 100.90 after slumping to its lowest levels in over a year in the previous session.
The greenback is trading at 144.55 yen versus the 144.37 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is trading at $1.1160 compared to last Friday's $1.1192.
The dollar may have benefitted from bargain hunting as well as its appeal as a safe haven after Hezbollah and Israeli forces exchanged attacks across the Lebanon-Israel border.
Israel purportedly launched a preemptive airstrike on Hezbollah missile launch sites in southern Lebanon early Sunday morning.
The Iranian-backed Hezbollah still managed to launch hundreds of missiles, but according to Reuters, most were intercepted or fell in open areas.
Hezbollah secretary general Hassan Nasrallah called the attack retaliation for the assassination of senior commander Fuad Shukr last month
However, Nasrallah said the barrage had been completed "as planned," partly offsetting worries about further escalation.
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