Why did the dollar retrace on Tuesday?
NEW YORK (Reuters) - The dollar retreated across the board on Tuesday, ceding some of the ground gained in the previous session, as investors looked past worries about China's COVID flare-ups, boosting demand for more risky currencies.
Why did the dollar ease off recent highs?
Equity markets globally slipped and the U.S. dollar eased off recent highs as investors eyed Wednesd The dollar turned defensive against other major currencies on Tuesday, with traders reluctant to push the greenback higher without further signs that another aggressive interest rate hikes from the Federal Reserve was coming in September.
Why did the Canadian dollar fall against the US dollar?
The Canadian dollar edged lower against its U.S. counterpart on Tuesday as investor caution ahead of a key U.S. inflation report this week offset higher oil prices. Equity markets globally slipped and the U.S. dollar eased off recent highs as investors eyed Wednesd
Why did the rupee fall on Wednesday?
The rupee fell on Wednesday in early trade even as the dollar remained tentative ahead of the Federal Reserve's policy meeting minutes, which could provide information on the trajectory of inflation and interest rates. Bloomberg showed the rupee was last changing hands at 81.7725 per dollar, compared to its previous close of 81.67 on Tuesday.