Dollar bides time as markets brace for Ukraine | Money News

(Corrects typographical error in headline)

By Gregor Stuart Hunter

SINGAPORE (Reuters) -The U.S. greenback held regular towards its main friends on Tuesday as world markets awaited the result of a White House summit with European nations that would decide the subsequent section of the warfare in Ukraine. The greenback index rose 0.31% to 98.122 with geopolitical occasions taking centre stage, after U.S. President Donald Trump instructed President Volodymyr Zelenskiy on Monday that the United States would help guarantee Ukraine’s security in any deal to finish the warfare with Russia.

“At the moment, markets are cautious,” stated Tina Teng, an unbiased market analyst in Auckland, as merchants weighed the potential implications for the worldwide power markets.

“The U.S. dollar is going stronger against other currencies and the risk-on sentiment is still leading markets at the moment,” she added, citing stock indexes at file highs.

The euro held regular at $1.1667, up 0.06% up to now in Asia, shuffling alongside the midpoint of the trading vary it has sat in for the previous two weeks. Markets are searching for direction this week from the Federal Reserve’s annual symposium in Jackson Hole on the probably path of rates of interest. Fed Chair Jerome Powell is because of communicate on the financial outlook and the central bank’s coverage framework.

Many traders are away for summer season holidays within the northern hemisphere, whereas markets will likely be left with few catalysts amid a skinny diary of information releases on Tuesday. Cryptocurrencies bucked the trend, with bitcoin falling 0.3% to notch a third straight day of declines after hitting a file high on Thursday. Ether sank 0.6%, extending losses for a second day after failing to breach a file high final week. Against the yen, the greenback was at 147.835 yen, unchanged from late U.S. ranges and nearing the highest of the trading channel it has sat in all month.

Japanese stock markets superior in early trading on Tuesday, with each the Nikkei 225 and the Topix at file ranges. The Australian greenback fetched $0.6495, up 0.1% in early commerce, after Westpac’s client sentiment information for August rose to a 3-1/2-year high. The kiwi tacked on 0.1% to $0.59245. Sterling traded at $1.351, up 0.1% up to now on the day, after rebounding from the low finish of its vary recorded over the previous week.

(Reporting by Gregor Stuart HunterModifying by Shri Navaratnam)