Daily

Daily Currency Market Update:


HIGHLIGHTS:

The U.S. dollar remained broadly lower against other major currencies on Tuesday, as sentiment on the greenback became more vulnerable in the face of recovering equity markets. U.S. equity markets were especially boosted by news on Monday of a $2 billion infrastructure plan by the Trump administration. The plan is part of the two-year budget agreement passed by the U.S. Congress last Friday, ending a brief government shutdown. The agreement is set to boost federal spending by almost $300 billion and suspend the debt ceiling for a year. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.31% to 87.73. The index is still up around 0.9% for the month after hitting its lowest level in more than three years.

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