Dollar Strengthens Toward August Peak
The dollar index rose to 98.4 on Monday, approaching August highs, supported by political developments abroad that weighed on both the euro and the yen. The euro weakened after another French Prime Minister resigned, stoking concerns about the government’s ability to manage the country’s large fiscal deficit and debt.
In Japan, the yen depreciated sharply following Sanae Takaichi’s election as leader of the ruling Liberal Democratic Party, boosting expectations of additional fiscal stimulus. Meanwhile, the US federal government shutdown entered its sixth day after US Senators for the fourth time failed to pass spending proposals to reopen the federal government on Friday.
Senators are set to return Monday and will once again vote on a Democratic funding plan that includes healthcare priorities, as well as on a GOP-led stopgap bill.
Source : Tradingeconomics.com