The U.S. dollar weakened against the euro after reaching an almost five-week high against the single currency on Monday.

The U.S. dollar weakened against the euro after reaching an almost five-week high against the single currency on Monday.

August 8, 2018 0 By Ali Hwary

The U.S. dollar weakened against the euro on Tuesday as the Chinese yuan showed more stability after the greenback reached an almost five-week high against the single currency on Monday.

The Dollar Index, which measures the greenback against six other major currencies dropped by 0.1 percent to close Tuesday’s session at 95.15.

The primary U.S. economic focus this week will be Fridays consumer price inflation report for July, which is expected to show a 0.2 percent increase in core inflation in the month, according to a Reuters poll.

Over in Europe, the euro upbeat the greenback on Tuesday, EURUSD rose 0.24 percent to close Tuesday’s session at 1.1598.

 

In the United Kingdom, the Cable slightly rose against the greenback, despite the Brexit cloud pressuring on UK currency, the GBPUSD rose by 0.05 percent to close Tuesday’s session at 1.2938.

Regarding safe-havens, the greenback lost against its Japanese counterpart on Tuesday to end the session down by 0.08 percent to settle at 111.37 USDJPY. Meanwhile, the Dollar also retreated versus the Swiss franc with the USDCHF dropping by 0.07 percent to end the session at 0.9955

While value is keeping precious metal, Gold, rebounded against the US Dollar on Tuesday to rise 0.24 percent to end the session at 1210.80 XAUUSD.

In commodity based currencies , The Canadian dollar weakened against its U.S. counterpart on Tuesday, with the currency pulling back from a nearly eight-week high intraday as a diplomatic dispute worsened between Canada and Saudi Arabia. The USDCAD rose by 0.39 percent to close the session at 1.3053.

Furthermore, both Aussie and Kiwi gained ground to their U.S counterpart, to close the session at 0.7420 AUDUSD and 0.6734 NZDUSD.

Regarding Cryptos, the Bitcoin and Ethereum declined versus the Greenback to end the session at 6885.21 BTCUSD and 382.51 ETHUSD, while LTCUSD also closed lower at 67.60.

 

 

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