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17 May 2022

Dollar Slipped against other Major Currencies as Focus turns to Growth

The Index Today

The dollar slipped against other major currencies for a third straight day on Tuesday, tempering a long rally as investors cashed out and trimmed bets on U.S. interest rate rises driving further gains.

The Chinese yuan also steadied after a steep slide that has taken it more than 6% lower in a month. It last traded at 6.7795 per dollar. The euro rose marginally to $1.0442 and the Antipodean currencies each rose about 0.5%.

The dollar's breather has set the dollar index back to 104.169, about 0.8% beneath last week's two-decade high of 105.010.

©Photo: Reuters

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