US President Donald Trump signed another Executive Order late Tuesday, signaling for the US Commerce Department to launch an official "probe" into Copper markets.
The Canadian Dollar (CAD) shed one-quarter of one percent against the US Dollar (USD) on Tuesday, bolstering USD/CAD and keeping the pair bid into the 1.4300 handle.
The US Dollar remained well on the defensive, dropping to the area of multi-week lows as investors’ jitters over the health of the US economy gathered extra steam, while uncertainty around tariffs also contributed to the cautious stance.
The US Dollar Index (DXY), which measures the performance of the US Dollar (USD) against a basket of six major currencies, posts small losses and falls to near 106.30 on Tuesday.
The USD/JPY pair gives up its intraday gains and turns negative in Tuesday’s North American after failing to hold above the psychological figure of 150.00 earlier in the day.
European Central Bank board member Isabel Schnabel argued on Tuesday that the fact that growth remains subdued cannot and should not be taken as evidence that policy is restrictive, as reported by Reuters.
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades weaker after comments from United States (US) Secretary of the Treasury Scott Bessent. Bessent said that US yields will drop lower
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