Markets Wrap: Dollar Falls, Bitcoin Corrects to $50K

SourceAl Bawaba
SectorFinancial Markets
CountryMiddle east

The U. S. Dollar Index that tracks the greenback against a basket of other currencies edged down 0. 14% to 89.

957 by 9:30 PM ET (2:30 AM GMT). The dollar was down on Tuesday morning in Asia, dropping to a near six-week low as investors await U. S. Federal Reserve Chairman Jerome Powell's potential response to rising inflation worries. The U. S. Dollar Index that tracks the greenback against a basket of other currencies edged down 0. 14% to 89. 957 by 9:30 PM ET (2:30 AM GMT). The USD/JPY pair inched down 0. 11% to 104. 94. The yen, currently the worst-performing major currency of 2021 due to its sensitivity to dropping U. S. Treasury prices, steadied against the dollar. The AUD/USD pair edged up 0. 15% to 0. 7926 while the NZD/USD pair inched down 0. 04% to 0. 7325. The USD/CNY pair inched down 0. 07% to 6. 4582. The GBP/USD pair edged up 0. 15% to 1. 4083, remaining above the 1. 4 mark. The pound, which rallied nearly 3% in 2021 as the U. K. rolled out a quick and successful COVID-19 vaccine program, in turn boosting confidence in a U. K. economic recovery. ...read more...