On Tuesday, crypto assets dived, with Bitcoin decreasing below the psychologically crucial $5,000 mark for the first time this year…
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.
On Monday, the Chinese Yuan headed south, while the evergreen buck rallied because US-China relations worsened over the weekend…
On Friday, the evergreen buck declined versus its counterparts due to the fact that Fed Vice Chairman Richard Clarida expressed concerns as for global surge and came up with quite dovish remarks on monetary policy…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…