Dollar Declines Against Major Counterparts
2025-01-17
3686
(fxcue news) - The U.S. dollar shed ground against most of its major counterparts on Tuesday as bond yields dropped a bit and President Trump chose to refrain from imposing new tariffs on imports from Asian and European countries.
Expectations of a couple of interest rate cuts by the Federal Reserve this year weighed as well on the dollar.
The dollar index dropped to 107.93, down more than 1.3% from Monday's close.
Against the Euro, the dollar weakened to 1.0430, and against Pound Sterling weakened to 1.2355.
The dollar declined marginally against the Japanese currency to 155.51 yen. Against the Aussie, it closed roughly flat at 0.6274.
The Swiss franc weakened to around 0.9110 against the dollar, but recovered to 0.9060 later on in the session. The Loonie weakened to 1.4326 a unit of U.S. dollar.
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