The euro edged higher against the dollar Tuesday, adding to gains from the previous day, as oil prices recovered slightly.The shared currency EURUSD, -0.1460% traded at $1.0950 late Tuesday in New York, compared with $1.0909 late Monday in New York.
The euro has benefited from falling oil prices, market strategists said, as traders unwound their bets on commodity-linked currencies and bought covered short euro positions used to fund those bets.
The dollar was little-changed against its other rivals as price moves were muted amid light trading volume during a holiday-shortened week.
The greenback USDJPY, -0.03% was at ¥121.01 late Tuesday, compared with ¥121.11 Monday. The pound GBPUSD, +0.0202% traded at $1.4813 Tuesday, compared with $1.4894 Monday.
The ICE U.S. Dollar index DXY, +0.07% a measure of the dollar’s strength against a basket of rival currencies, was down 0.2% to 98.2150.
In other currency trading, the Turkish lira declined against the dollar after the country’s central bank left official interest rates unchanged. The central bank had been expected to lift rates. The lira USDTRY, +0.0375% traded at 2.93 to the dollar, compared with 2.91 a day ago.
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