The greenback surged on Tuesday against its major rivals in reaction to positive manufacturing index by Institute of Supply and Management. ISM’s manufacturing index gained to 54.8 percent in the Month of April. While among Australian dollar turned out to be one of the biggest losers as the Reserve Bank of Australia went for a huge interest rate cut.
The ICE dollar index DXY which tracks the US dollar’s performance versus its six major rival currencies gained to 78.829 on Tuesday as compared to 78.779 on Monday’s North American trading session.
The euro also declined to 1.3203 on Tuesday against the US dollar as compared to 1.3239 on Monday’s late trading hours.
The British Pound fell to 1.6225 against the greenback on Tuesday as compared to 1.6233 on late Monday. Against the Japanese yen the US dollar gained to 80.20 on Tuesday as compared to 79.82 on Monday’s late trading hours.
The Australian dollar fell to 1.0335 versus the US dollar on Tuesday as compared to 1.0420 on late Monday. The Australian dollar plunged in reaction to massive cut in key interest rate by Reserve Bank of Australia. Currently the key interest rate in Australia stands at 3.75 percent.
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