Forex- U.S. Dollar Inches Forward Against Yen, Euro as Markets Recover


© 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.

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