Dollar climbs, takes a break from upward trend
The dollar climbed on Wednesday morning in Asia but slightly declined from multi-month peaks. The previous boost from risk aversion receded, while selling was weak ahead of the European Central Bank (ECB)’s new monetary policy that kept the euro pinned down.
The U.S. Dollar Index that measures the greenback against other major currencies tallied a 0.07% increase to 93.047. The index was up 2.8% since mid-June, closer to its peak of 93.439 in March 2021.
The USD/JPY pair rose 0.05% to 109.89. Japan’s export increased 48.6% year-on-year, a double-digit gain for four consecutive months now, while imports jumped 32.7% year-on-year in June.
The AUD/USD pair fell 0.26% to 0.7310. Australia’s retail sale recorded a slump of 1.8% month-on-month.
The NZD/USD pair was also down 0.07% to 0.6912.
The USD/CNY pair slid 0.15% to 6.4746, and the GBP/USD pair shed 0.08% to 1.3615.