Investing.com – The U.S. dollar was broadly higher against its major counterparts on Tuesday, while the Swiss franc also posted gains amid fears over further monetary tightening by China and after disappointing economic data from the euro zone.
During European afternoon trade, the greenback was higher against the euro, with EUR/USD shedding 0.47% to hit 1.4470.
Earlier in the day, official data showed that retail sales in the euro zone slumped in May, posting their biggest fall in a year. A separate report showed that the euro zone's private sector posted its weakest growth in more than a year and a half.
Meanwhile, speculation over a rate hike by China mounted after the People's Bank of China said in a statement Monday that inflationary pressures "are still high."
But the greenback was down against the pound, with GBP/USD rising 0.19% to hit 1.6113.
Official data released earlier showed that service sector activity in the U.K. rose unexpectedly last month.
Elsewhere, the greenback was up against the yen but down against the Swiss franc, with USD/JPY climbing 0.19% to hit 81.14 and USD/CHF shedding 0.34% to hit 0.8449.
Meanwhile, the greenback was stronger against its Canadian, Australian and New Zealand counterparts, with USD/CAD gaining 0.17% to hit 0.9626, AUD/USD shedding 0.35% to hit 1.0695 and NZD/USD sliding 0.19% to hit 0.8281.
Earlier Tuesday, the Reserve Bank of Australia held its benchmark interest rate at 4.75% in a widely expected decision, saying that the euro zone’s sovereign debt crisis had “added to uncertainty” about the outlook for the world economy.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.33%.
Later Tuesday, the U.S. was to publish government data on factory orders.
During European afternoon trade, the greenback was higher against the euro, with EUR/USD shedding 0.47% to hit 1.4470.
Earlier in the day, official data showed that retail sales in the euro zone slumped in May, posting their biggest fall in a year. A separate report showed that the euro zone's private sector posted its weakest growth in more than a year and a half.
Meanwhile, speculation over a rate hike by China mounted after the People's Bank of China said in a statement Monday that inflationary pressures "are still high."
But the greenback was down against the pound, with GBP/USD rising 0.19% to hit 1.6113.
Official data released earlier showed that service sector activity in the U.K. rose unexpectedly last month.
Elsewhere, the greenback was up against the yen but down against the Swiss franc, with USD/JPY climbing 0.19% to hit 81.14 and USD/CHF shedding 0.34% to hit 0.8449.
Meanwhile, the greenback was stronger against its Canadian, Australian and New Zealand counterparts, with USD/CAD gaining 0.17% to hit 0.9626, AUD/USD shedding 0.35% to hit 1.0695 and NZD/USD sliding 0.19% to hit 0.8281.
Earlier Tuesday, the Reserve Bank of Australia held its benchmark interest rate at 4.75% in a widely expected decision, saying that the euro zone’s sovereign debt crisis had “added to uncertainty” about the outlook for the world economy.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.33%.
Later Tuesday, the U.S. was to publish government data on factory orders.