Please try another search
Investing.com - The dollar extended losses against the other major currencies on Tuesday, as concerns over global economic growth continued to dominate market sentiment.
USD/JPY dropped 0.81% to a more than one-year low of 114.91.
The yen strengthened as Japan’s Nikkei closed down 5.4% overnight, the largest drop in three years amid mounting fears over the health of the global economy and the financial sector.
Concerns over the health of European banks prompted investors to sell financial stocks on Monday, sparking a rout in European and U.S. markets.
Trade volumes were expected to remain thin in Asia with markets in China closed for the five-day long Lunar New Year holiday.
EUR/USD rallied 0.90% to trade at 1.1294.
Data earlier showed that German industrial output unexpectedly fell 1.2% in December, indicating that the region’s largest economy ended 2015 on a weak footing.
Elsewhere, the dollar edged higher against the pound, with GBP/USD down 0.12% at 1.4414 and was lower against the Swiss franc, with USD/CHF tumbling 1.56% to 0.9714.
The U.K. Office for National Statistics said on Tuesday that the total trade deficit widened to £10.3 billion in the fourth quarter from £8.5 billion pounds in the previous quarter, marking the biggest trade gap since the start of 2015.
The annual trade deficit widened to £34.7 billion in 2015, up from £0.3 billion in 2014.
Meanwhile, USD/CAD slipped 0.14% to 1.3907.
The Australian and New Zealand dollars were weaker, with AUD/USD down 0.45% at 0.7056, while NZD/USD edged up 0.17% to 0.6639.
The National Australia Bank earlier reported that its business confidence index ticked down to 2 in January from 3 the previous month, in line with expectations.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.76% at 96.03.
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.