Dollar resilient, euro wallows at two-decade low on economy woes

SINGAPORE : The dollar held firm on Tuesday on safe haven flows, while the euro languished around a two-decade low as Europe confronts energy supply and broader economic growth concerns.

Heatwaves in the continent have already put a strain on energy supplies and worries are growing that any disruption during the winter months could be devastating for business activity. The pound was also dragged to a new 2.5-year low overnight, and hobbled near that level at $1.17715 in Asia trade. The Japanese yen steadied at 137.265 per dollar after touching a one-month low of 137.705.

Investors are also waiting on minutes of the European Central Bank's last policy meeting on Thursday that are likely to sound hawkish even as the continent faces a downturn in growth.Elsewhere in Asia, the dollar traded at 6.8652 against the offshore yuan, not far from a nearly two-year high of 6.8752 hit on Monday.

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