Forex Market Update : Epic Research Singapore

A widely watched U.S. dollar index hit its highest level in nearly a year on Tuesday as the greenback mounted a tepid climb against its rivals and the euro continued to weaken.

The dollar index DXY, +0.10%  , which measures the strength of the dollar against a basket of other currencies, traded at 81.876 on Tuesday, up from 81.572 late Monday. 

The U.S. dollar has risen against the yen USDJPY, +0.21%   as investors assess the Asian nation’s still-sluggish economy and easy monetary policy. Meanwhile, the euro EURUSD, -0.11%   has depreciated against the dollar as the European Central Bank unveiled easing measures in June and hinted at more on the horizon to combat low inflation.

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