Greenback is nearly intact, hovering over 1-week minimums vs. counterparts

Greenback is nearly intact, hovering over 1-week minimums vs. counterparts

On Tuesday, the major American currency was nearly intact versus other crucial counterparts, hovering over a one-week minimum as market participants were still digesting the previous week's news of probable American duties on aluminum as well as steel imports.

Market participants were still cautious because American President Donald Trump was under great pressure to give up an idea of imposing aluminum and steel duties.

However, Trump’s response was to step up pressure on Canada and Mexico, telling he would raise planned duties on steel imports if they dare to sign a fresh version of the North American Free Trade Agreement.

The duties, uncovered the previous week, had rekindled worries over a potential trade conflict, which would have an adverse impact on the American economy.

Estimating the greenback’s value versus a group of six crucial currencies, the US dollar index didn’t change, sticking with 89.92.

The common currency and the British pound didn’t change, with EUR/USD being worth 1.2341 as well as GBP/USD hitting 1.3847.

Market sentiment on the common currency turned to be fragile in the face of worries over Sunday’s inconclusive Italian election outcomes.

Besides this, the Japanese yen managed to strengthen, with USD/JPY sliding 0.21% reaching 105.99 and USD/CHF was intact, demonstrating an outcome of 0.9399.

The Japanese yen demonstrated minor reaction after Bank of Japan Chief Haruhiko Kuroda told that there were some downside risks to the major financial institution’s projection that inflation would hit its 2% objective by 2020.

The previous week the Japanese yen had soared after Kuroda told that the Bank of Japan would talk about an exit from monetary easing in case of meeting its inflation objective.

As for the Australian dollar, this commodity currency didn’t change, with the currency pair AUD/USD hitting 0.7759.



ECB Meeting

Traders are impatiently waiting for the European Central Bank’s meeting on October 26…


promotions you can be interested in

Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera