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Forex – Dollar Slides, Euro Recovers


© Reuters. The U.S. dollar was lower on Tuesday.

Investing.com – The U.S. dollar was lower on Tuesday as the steadied.

The , which measures the greenback’s strength against a basket of six major currencies, decreased 0.25% to 94.95 as of 11:13 AM ET (15:13 GMT).

Trade uncertainty has boosted the greenback in the last few months, as the U.S. economy is seen as stronger, but the dollar has failed to break above the 95.5 level.

On Friday, China warned it would impose tariffs on up to $60 billion of U.S. goods in response to White House plans to propose tariffs of 25% instead of 10% on $200 billion of imported Chinese goods. The Chinese offshore yuan recovered slightly, but was still near a 15-month low due to trade war fears, with down 0.55% to 6.8280.

The dollar was lower against the safe-haven yen, with decreasing 0.19% to 111.20. In times of uncertainty, investors tend to invest in the Japanese yen, which is considered a safe asset during periods of risk aversion.

The euro was higher after the dollar fell, with rising 0.35% to 1.1595.

Sterling was also higher, with rising 0.07% to 1.2952, despite worry over the possibility of a no-deal Brexit.

The Turkish lira slumped as it neared its record low on Monday amid a diplomatic spat with the U.S. fell 1.49% to 5.2518.

The Australian dollar recovered with up 0.51% to 0.7425, while was up 0.09% to 0.6738. The loonie was lower against the greenback, with up 0.08% to 1.3014.

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