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US dollar pushes higher after deadly Brussels bombings

Wednesday, March 23, 2016 - 06:01

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The US dollar pushed modestly higher Tuesday after the deadly bombings in Brussels claimed by the Islamic State group that left around 35 people dead.

[NEW YORK] The US dollar pushed modestly higher Tuesday after the deadly bombings in Brussels claimed by the Islamic State group that left around 35 people dead.

There was little of the strong move to safety often seen after such incidents, with the markets becoming "inured" to them, as one analyst said.

The US dollar edged up to US$1.1216 against the euro and to 112.35 yen. The Swiss franc, traditionally a key safe-haven currency, was weaker against the euro and US dollar.

"The more instability there is in Europe, the harder it becomes for the euro to maintain its levels. And the fact it happened in Brussels, which is the unofficial capital of the eurozone, has an impact on the market as well," said Boris Schlossberg of BK Asset Management.

"Overall there is a real sense of uncertainty on the market right now because nobody is sure whether or not it's going to be a one-off event."

AFP

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