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April 16, 2021

The U.S Dollar index dropped against the basket of six major currencies

US dollar

The U.S Dollar index dropped against the basket of six major currencies to end the session in the red territory at 95.35 pressured by stronger Great British Pound as investors are optimistic over the Brexit talks where the hopes have been renewed for a breakthrough in the talks.

Dow Jones Newswire reported that the European Union and U.K are close to reach an agreement on Brexit terms as soon as Monday, despite that the Ireland border still as an issue between them.

The sterling rose sharply against the U.S Dollar to end the session in the green territory at 1.31423 GBPUSD while EURUSD remained approximately flat to end the session at 1.1489 EURUSD.

In Canada, the U.S Dollar fell against the Loonie to close the session lower at 1.2945 USDCAD as the increase in oil prices supported the Loonie dollar where U.S Crude oil rose on Tuesday to end the session on positive notes at $74.64 a barrel.

In terms of safe-havens, the greenback fell against the Japanese yen for the fourth session in a row where USDJPY dropped to close the session in the negative territory at 112.96, while the U.S Dollar fell against the Swiss Franc to close down at 0.9919 USDCHF. Regarding the precious metal, Gold prices appreciated on Tuesday to settle up at 1189.69 XAUUSD.

Elsewhere in Asia, both Aussie and Kiwi rose against their U.S counterpart to close Tuesday’s Trading session on positive notes at 0.7102 AUDUSD and 0.6472 NZDUSD.

In cryptocurrencies pace, Bitcoin, Litecoin and Ethereum dropped against the greenback to close the session lower at 6555.51 BTCUSD, 56.46 LTCUSD, and 223.60 ETHUSD.

Ali Hwary

Ali Hwary

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The U.S Dollar Index appreciated against the basket of six major currencies boosted by weaker Euro and sterling.

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