US dollar gained on overnight trading on Tuesday due to its safe haven status. The surge in greenback mainly came in reaction to raised assessment of Japanese government for its nuclear crisis. Japan is rating its current nuclear crisis to the same level of 1986 Chernobyl disaster. Japan rated its crisis to 7 levels which is much higher than its record previous rating of 5.
The dollar index DXY which measures the US dollar’s performance against its six major counterpart currencies moved up to 75.007 on Tuesday’s overnight trading session as compared to 74.989 on Monday’s North American trading session.
The Australian dollar declined against the greenback and traded at $1.05 on Tuesday as compared to $1.0520 on Monday’s late trading hours. The US dollar also performed versus the Canadian dollar and surged 0.2 percent to 0.9577 on Tuesday’s Asian trading hours. Greenback touched the day’s high of 0.9636.
Against the single currency the US dollar slightly declined to 1.4429 as compared to 1.4445 on late Monday. The euro advanced 1.6 percent versus the greenback in the last week on decision on interest rate hike by European Central Bank.
The British Pound plunged to 1.6231 versus the US dollar as compared to 1.6362 on Monday’s North American trading session. The euro gained 0.7 percent to 88.89 versus the Pound Sterling on Tuesday.
However the US dollar remained under pressure against the Japanese Yen. The US dollar dropped to 84.25 on Tuesday as compared to 84.54 on Monday. Yen benefits the most on appreciation of US unit as the Japan holds the highest proportion of US debt bonds.
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