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January 24, 2021

The Dollar rose against a basket of other currencies on Tuesday for the fifth session in a row.

us dollar

The Dollar rose against a basket of other currencies on Tuesday for the fifth session in a row. The rise in the Dollar was supported by the falling Euro and on the concerns of the political situation regarding Italy’s budget.

The U.S. Dollar index rose by 0.18 percent against the basket of six major currencies on Tuesday, to trade at 95.09 at the close.

In Europe, the Euro fell for the fifth consecutive session against the Greenback on Tuesday, as the concerns regarding Italy’s budget weighed on the currency, and after a senior Italian lawmaker said that “most of the country’s problems would be solved if the country returned to a national currency of its own”. The EURUSD fell by 0.28 percent to close the session at 1.15462.

Moreover, in the United Kingdom, the Sterling Pound dropped by 0.48 percent against the Greenback on Tuesday’s session to close the session at 1.29785. The Pound fell due to the conflicts over Prime Minister Theresa May’s Brexit plan.

Regarding safe-havens, the Greenback fell against the Japanese Yen while it rose against the Swiss Franc on Tuesday; the USDJPY dropped by 0.24 percent to close the session at 113.618. On the other hand, the USDCHF rose for the seventh consecutive session by 0.01 percent to settle up at 0.98379.

The precious metal Gold prices rose on Tuesday’s trading session, gaining around 1.2 percent to close the session in the red at 1203.10 XAUUSD.

Elsewhere in Canada, the Dollar rose against the Loonie Dollar on Tuesday. The USDCAD advanced by 0.07 percent to close at 1.28213.

In Asia, both Aussie and Kiwi fell against their U.S. counterpart to close the session on negative notes at 0.71850 AUDUSD and 0.65909 NZDUSD.

In Cryptocurrencies pace, Bitcoin, Litecoin and Ethereum tumbled against the Greenback to finish lower at 6498.11 BTCUSD, 57.82 LTCUSD, and 222.57 ETHUSD.

Ali Hwary

Ali Hwary

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