The U.S. dollar rose today, Tuesday, to its highest level in four months against major currencies.
The Dollar Index, which measures the currency’s performance against six other currencies, recorded a 0.16% increase to 105.59, nearing the highest level reached yesterday at 105.70, the strongest since July 3rd.
The euro fell to its lowest level in nearly seven months, recorded last night, dropping to 1.0629 dollars overnight for the first time since April 22nd. In the latest trades, it stood at 1.0642 dollars.
The British pound also dropped 0.23% to 1.2841 dollars ahead of labor market data, which may provide clues about the pace at which the Bank of England will cut interest rates.
The Chinese yuan reached its lowest level since August 1st, at 7.2505 against the dollar in offshore trading, before rising to 7.2469 in the latest trades, while the Australian dollar declined 0.33% to 0.65525 dollars.
Meanwhile, the Japanese yen rose by about 0.1% to 153.48 against the dollar. The yen had fallen to its lowest level in three months, at 154.715 against the dollar, last week.
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