The U.S. Dollar closed Tuesday’s session higher as bond yields rebounded, easing the concerns over the health of the U.S. economy even after weak economic data.
Moreover, according to the Commerce Department, weak data pointed to a disturbed housing sector in the U.S., which is a leading indicator of the economy as Housing starts fell 8.7 percent to a seasonally-adjusted annual rate of 1.162 million units last month.
The U.S. Dollar Index which measures the strength of Greenback against a basket of six major currencies rose by 0.31 percent to finish the session at 96.3.
Over in Europe, the single currency fell on Tuesday against the U.S. Dollar reversing some of the last session gains tied to a better-than-expected German business confidence indicator. EURUSD closed the session at 1.12651.
Meanwhile, the Sterling rose on Tuesday’s session after two Eurosceptic lawmakers, Jacob Rees-Mogg and Michael Fabricant indicated that they might agree to support Theresa May’s EU withdrawal deal rather than risk the U.K. parliament canceling Brexit. GBPUSD closed the session at 1.32068.
Regarding Safe-havens, the Swiss Franc fell slightly against the U.S. Dollar to close Tuesday’s session at 0.99438 USDCHF. Also, the Japanese Yen fell against the Greenback to settle at 110.620 USDJPY.
Gold prices fell slightly on Tuesday after hitting a three-week high in the previous session after the dollar recovered and risk appetite and bond yields improved as fears eased about a possible U.S. recession.
Meanwhile, the Canadian Dollar rose against the U.S. Dollar on Tuesday, as stocks and oil prices rose. The USDCAD closed the session at 1.33805.
Over in Asia, the Aussie Dollar rose against the U.S. Dollar to end Tuesday’s session at 0.71329.
Cryptocurrencies finished Tuesday’s session in mixed territories. Bitcoin and Ethereum rose against the U.S. Dollar to close at 3894.8 BTCUSD and 133.9 ETHUSD respectively, on the other hand, Litecoin fell against the U.S. Dollar to settle at 55.44 LTCUSD.
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