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The US dollar extended its decline on Tuesday while risk-sensitive currencies such as the British pound and the Australian dollar rebounded after falling overnight.
Global stocks started February higher after falling nearly 5 percent in January, and the currency market changed course as well. After the dollar index reached its highest level in 19 months last week, it declined on Monday and continued its decline on Tuesday, dropping by 0.3 percent to 96.395 by 0811 GMT.
The dollar also fell against the Japanese yen, recording 114,990 yen to the dollar.
The Australian dollar fell sharply last night after the Reserve Bank of Australia curbed expectations of a rate hike soon before inflation picks up.
The British pound rose 0.2 percent to 1.34765 dollars. Prime Minister Boris Johnson is facing calls for his resignation after a report of parties at his residence at the time of the Coronavirus lockdown showed “serious failures of leadership”.
The euro rose 0.2 percent on Tuesday to $1.2585.
Investors are also betting that the European Central Bank will raise rates this year despite its very flexible stance on monetary policy.
In the cryptocurrency market, the price of bitcoin rose 0.2 percent to about $ 38,576, compared to its highest level ever, which reached 69,000 in November.
