The dollar gained across the board yesterday, with the yen being the only G10 currency that stood tall against it. Perhaps the performance of the two was the result of some month-end and quarter-end demand due to corporate repatriation of profits. The pound fell off the cliff yesterday but was saved by positive headlines on the Irish Border.
The Dollar Outperforms the G10s; Only the Yen Resists
The dollar traded higher against all but one of the other G10 currencies on Tuesday, reversing Monday’s tumble. The main losers were AUD, SEK and NOK, while the currency that managed to resist the dollar’s uprising was the yen.
The greenback started to gain during the European morning, with the yen staying strong as well, but European equity markets were a sea of green with the Euro Stoxx 50, the German DAX, and UK’s FTSE 100 ending the up 1.56%, 1.61% and 1.16% up respectively.
Read the full financial markets daily report on JFD Research.