Dollar dips, euro steadies after German coalition partners resolve row

U.S. dollar banknote is seen in this picture illustration taken May 3, 2018. REUTERS/Dado Ruvic/Illustration

Monitoring, July 3 (INP): The dollar eased marginally against its peers, as the euro steadied after partners in Germany’s coalition settled a row over migration that had threatened to topple Chancellor Angela Merkel’s government.

The euro was little changed at $1.1630 after shedding 0.45 percent overnight.

The single currency had slipped on Monday after German Interior Minister Horst Seehofer offered to resign, but it later steadied when his Christian Social Union (CSU) party reached a deal with Merkel’s Christian Democrats (CDU) over illegal immigration, and the resignation threat was withdrawn.

“Concerns towards the euro have ebbed for the time being. But the underlying immigration and refugee theme will continue to remain a potential risk factor,” said Shin Kadota, senior strategist at Barclays in Tokyo.

Inp/khan