The dollar faced pressure on Tuesday and was trading at multi-month lows against the euro and other major currencies at a time when investors expect US interest rates to fall next year and see this as a signal to sell the dollar as a hedge.<\/p>\n\n\n\n
Movements were modest in early Asian trading, but the dollar index fell from its 200-period moving average on Monday as a rise in the Chinese yuan led to another round of significant declines for the US currency.<\/p>\n\n\n\n
The dollar index, which measures the performance of the US currency against a basket of six major currencies, fell 1.9 percent last week in conjunction with a significant rise in US Treasury bond yields, and lost another 0.5 percent overnight to reach 103.44 points.<\/p>\n\n\n\n
The euro touched a three-month high of $1.0952 on Monday thanks to limited help from European Central Bank Governing Council member Pierre Wunsch, who disputed market expectations of an April interest rate cut.<\/p>\n\n\n\n
The yuan hit a three-month high against the dollar on Monday, thanks to the policies of the Chinese central bank. The Australian and New Zealand dollars also rose against the US currency.<\/p>\n\n\n\n
In weak external trading on Tuesday morning, the yuan rose and maintained its gains at 7.1640 to the dollar.<\/p>\n\n\n\n
The Australian dollar rose slightly to $0.6561, slightly below the three-month high recorded on Monday at $0.6564.<\/p>\n\n\n\n
The New Zealand dollar settled at $0.6040.<\/p>\n\n\n\n
Even the yen rose to a seven-week high of 148.1 to the dollar overnight and settled at $148.3 on Tuesday.<\/p>\n","protected":false},"excerpt":{"rendered":"
The dollar faced pressure on Tuesday and was trading at multi-month lows against the euro and other major currencies at a time when investors expect US interest rates to fall next year and see this as a signal to sell the dollar as a hedge. Movements were modest in early Asian trading, but the dollar …<\/p>\n","protected":false},"author":9,"featured_media":34466,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6827,49,37,36],"tags":[7670,9504,6885,6952,7163,7580,10688,6984,8367,6950],"class_list":["post-92896","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-economic-reports","category-economic-reports","category-forex-markets","category-market-updates","tag-asian-stocks","tag-earnings-season","tag-fed","tag-global-economy","tag-jerome-powell","tag-monetary-policy","tag-mortgage-bankers-association","tag-treasury-yields","tag-us-dollar","tag-wholesale-inventories"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/92896","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=92896"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/92896\/revisions"}],"predecessor-version":[{"id":92897,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/92896\/revisions\/92897"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/34466"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=92896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=92896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=92896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}