Forex Market Update : Epic Research Singapore

The dollar finished Tuesday’s session higher against the euro and the yen but rapidly trimmed its gains as U.S. stocks abruptly turned lower in the last hour of trading.

The ICE U.S. Dollar index DXY, -0.01% a measure of the greenback’s strength against a basket of six currencies, was up 0.8% to 93.9990 in recent action after slumping 1.7% on Monday. It is still down 0.8% for the week, but up 4.2% for the year so far.

The euro EURUSD, +0.0087%  was down 0.8% to $1.1499 on Tuesday. The dollar USDJPY, +0.27%  climbed 0.2% to 118.98 yen.

The Australian dollar AUDUSD, -0.0280%  was up 0.8% to 72.22 cents; the New Zealand dollar NZDUSD, +0.3089% was up 1.3% to 65.27 cents; the Canadian dollar CADUSD, +0.1276%  was up 0.7% to 75.81 cents. The Mexican peso rose 1.2% to 16.96 pesos per dollar, moving off a record low from Monday’s session.

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