Forex – U.S. Dollar Flat as Investors Turn to Stocks

© Reuters. – The greenback was flat as upbeat Chinese and European data eased investor concern over the global economy and investors flocked to equities after upbeat earnings.

The , which measures the greenback’s strength against a basket of six major currencies, rose 0.06% to 96.618 as of 11:17 AM ET (15:17 GMT).

Housing prices in China rose at the fastest pace since April 2017 in March, helping ease concerns over the slowing economy, while the German ZEW economic sentiment index jumped more than expected in April.

Upbeat earnings reports also shifted investor focus on U.S. equities after better-than-expected earnings from Johnson & Johnson (NYSE:) and others.

The dollar was down against the safe-haven yen, with slipping 0.08% to 111.98.

Elsewhere, sterling fell as Brexit talks stalled within the U.K. government, opposition leader Jeremy Corbyn told The Guardian. The two sides have failed to agree on a customs union or workers rights and talks were halted due to the Conservative party wanting deregulation post-Brexit.

“The government doesn’t appear to be shifting the red lines because they’ve got a big pressure in the Tory party that actually wants to turn this country into a deregulated low-tax society which will do a deal with Trump. I don’t want to do that,” he said.

fell 0.4% to 1.3048.

Elsewhere, inched down 0.07% to 1.3352 and slipped 0.1% to 1.1292.

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