Currency update

Category:-Metal | 03-Aug-2022 10:00 AM

The yen was up slightly against the dollar Tuesday, adding to recent gains as increasing tensions over U.S. House of Representatives Speaker Nancy Pelosi’s planned visit to Taiwan made investors more risk averse.

China’s offshore yuan fell against the dollar, touching its lowest level since mid-May.

The U.S. dollar index, which measures the greenback against six peers, also was higher, reversing recent losses. It was last up 0.67% at 106.17. The index has eased recently as investors began reassessing how aggressive the Federal Reserves may be with interest rate hikes in the future.

Major U.S. stock indexes were also lower in another sign of anti-risk sentiment, as Pelosi’s expected visit to Taiwan rattled investors.

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