Dollar Down but Near Seven-Week
Dollar Down but Near Seven-Week
FxPremiere.com — Forex Signals; The dollar was down on Tuesday morning in Asia but was hovering near seven-week highs. The U.S. currency was a beneficiary of an overnight euro selloff after COVID-19 lockdowns in the continent led to decreased consumer spending.
The U.S. Dollar Index that tracks the greenback against a basket of other currencies edged down 0.15% to 90.890 by 11:36 PM ET (4:36 AM GMT).
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The USD/JPY pair inched up 0.03% to 104.94.
The AUD/USD pair inched up 0.09% to 0.7625, with the riskier AUD rebounding from two days of losses. The Reserve Bank of Australia kept interest rates unchanged at 0.10%, as widely expected, as it handed down its January policy decision earlier in the day. The NZD/USD pair was up 0.27% to 0.7175.
The USD/CNY pair inched down 0.10% to 6.4603. The GBP/USD pair was up 0.21% to 1.3689, with a Bank of England policy decision due on Thursday. Dollar Down Over Improving Risk
The euro sank to two-and-a-half-week lows overnight in reaction to disappointing German retail sales figures. Retail sales contracted 9.6% month-on-month and grew 1.5% year-on-year in December, well below the respective forecast contraction of 2.6% and 5% growth. Europe is still feeling the impact of a second wave of COVID-19 cases in the continent and is also struggling with its COVID-19 vaccine rollout program.
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Meanwhile, gains in Asian shares saw the index ease slightly by 0.1% after rising 0.4% overnight, even touching 91.063 for the first time since Dec. 10. The index has also stuck to a tight range in recent weeks, bouncing back from the three-year low recorded at the beginning of 2021. Forex Signals — The U.S. dollar was down
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“When people think about selling euros, invariably you get some buying of dollars, because the euro-dollar exchange rate is easily the most liquid in the world,” Capurso added. FOREX — U.S. Dollar Down Amid Improved
In the U.S., investor sentiment was boosted after a “very productive” two-hour meeting on Monday between U.S. President Joe Biden and a group of ten Republican senators to discuss a downsized COVID-19 stimulus package.
Dollar Down but Near Seven-Week
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