- Wall Street's gains curb demand for greenback
- Euro, pound hold support levels, yen stalls
- Sterling on track for steepest monthly loss in a year
- Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh
(Updates market action, changes dateline, previous LONDON)
The dollar rose on Thursday, on track to post a fourth straight month of gains, as the trade stand-off between China and the United States prompted traders to put money into perceived safe currencies including the greenback.
Safe-haven demand lifted the dollar to a two-year high against a basket of currencies last week. Appetite for the greenback was somewhat curbed on Thursday as Wall Street stabilized following steep losses due to the trade worries.
The euro and sterling holding above key support levels at $1.11 and $1.26, respectively, also restrained the greenback's momentum, analysts said.
"The dollar is getting tired at these levels," said Dean Popplewell, chief currency strategist at Oanda. "Some people want to take off some of these positions before June."
At 10:53 a.m. (1453 GMT), an index that tracks the dollar against six major currencies .DXY was up 0.1% at 98.246. It reached 98.371 a week ago, marking its strongest level since May 2017.
The S&P 500 .SPX was up 0.45%, while benchmark 10-year Treasury yields US10YT=RR was 2.8 basis points higher at 2.264%.
The dollar index has increased 0.76% in May, putting it on track for four straight months of gains.
The greenback will likely extend its monthly winning streak against the euro, which began in January.
Signs of a sagging euro zone economy, together with worries about the rise of euro-sceptic political parties within member countries, have hurt the single currency.
The euro EUR=EBS was 0.07% down at $1.1123, within striking distance of $1.11055 hit a week ago, which was a two-year low.
The dollar has also remained resilient against the yen, despite the risk averse environment.
The greenback was 0.21% higher at 109.82 yen, rebounding from a two-week low on Wednesday.
Analysts said the yen, a safe-haven currency backed by Japan's status as the world's biggest creditor nation, remained relatively weak because of domestic demand for dollars.
"As there's persistent yen-selling and dollar-buying from Japanese investors when the rate approaches the 109.10 yen per dollar level, it's not easy for the yen to rise above the 109 level," said Yukio Ishizuki, senior currency strategist at Daiwa Securities.
Sterling GBP=D3 was poised for the biggest monthly drop against the dollar in a year as the imminent departure of Theresa May as prime minister deepened fears about a chaotic exit for Britain from the European Union.
On Thursday, the pound was 0.34% higher at $1.258, while the euro EURGBP=D3 was up 0.24% at 88.37 pence.
======================================================== Currency bid prices at 10:54AM (1454 GMT)Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar EUR= $1.1121 $1.1129 -0.07% -3.05% +1.1144 +1.1117 Dollar/Yen JPY= 109.8000 109.5800 +0.20% -0.42% +109.9200 +109.4900 Euro/Yen EURJPY= 122.12 121.97 +0.12% -3.25% +122.2500 +121.9500 Dollar/Swiss CHF= 1.0080 1.0075 +0.05% +2.75% +1.0098 +1.0072 Sterling/Dollar GBP= 1.2583 1.2625 -0.33% -1.36% +1.2639 +1.2581 Dollar/Canadian CAD= 1.3506 1.3519 -0.10% -0.96% +1.3520 +1.3485 Australian/Doll AUD= 0.6901 0.6917 -0.23% -2.11% +0.6936 +0.6903 arEuro/Swiss EURCHF= 1.1214 1.1222 -0.07% -0.36% +1.1249 +1.1214 Euro/Sterling EURGBP= 0.8836 0.8812 +0.27% -1.65% +0.8840 +0.8809 NZ NZD= 0.6496 0.6509 -0.20% -3.29% +0.6527 +0.6497 Dollar/DollarDollar/Norway NOK= 8.7604 8.7518 +0.10% +1.41% +8.7688 +8.7383 Euro/Norway EURNOK= 9.7438 9.7432 +0.01% -1.64% +9.7639 +9.7331 Dollar/Sweden SEK= 9.5376 9.5494 -0.20% +6.40% +9.5632 +9.5315 Euro/Sweden EURSEK= 10.6073 10.6290 -0.20% +3.35% +10.6415 +10.5997 <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Currency Performances http//tmsnrt.rs/2Iazj7L^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
