© Reuters. The U.S. dollar was a touch higher on Tuesday.
Investing.com – The U.S. dollar was higher against a basket of other currencies on Tuesday as the market attempted to shake off concerns of a trade war and Wall Street rallied.
The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.12% to 89.80 as of 11:38 AM ET (15:38 GMT), not far from its earlier high of 89.94.
Wall Street made a comeback on Tuesday after its worst first day of April since 1929, as stocks have entered the correction territory.
The was up 0.41% while the composite increased 0.61% and tech heavy rose 0.50%.
Investors were also shaking off trade war concerns between the U.S. and China. On Sunday China increased tariffs by 25% on 128 different U.S. products in response to trade tariffs from the U.S. The news increased trade tensions between the two biggest economies in the world and raised investor fear of a trade war.
The Trump administration is expected later this week to publish a list of Chinese goods that could be subjected to new U.S. tariffs.
The dollar rose against the safe haven yen, with gaining 0.57% to trade at 106.48.
The euro was down, with falling 0.24% to 1.2273. Meanwhile jumped 0.20% to 1.4072.
Elsewhere, the Australian dollar increased, with rising 0.22% at 0.7678, while rose 0.67% to 0.7259.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Latest posts by investing.com (see all)
- Trump not trying to intervene in currency markets: Mnuchin - July 21, 2018
- Flailing Euro Is Unlikely to Find Any Succor From ECB Meeting - July 20, 2018
- Forex – Dollar Slumps on Trump Trade Comments - July 20, 2018