The U.S. dollar traded higher in Europe Tuesday - GEPL Capital
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News / Other data
* The U.S. dollar fell across the board on Wednesday, weighed down by firmer commodity currencies that benefited from China's strong manufacturing activity data, as well as gains in the euro after German inflation soared last month and raised rate hike expectations in the euro zone.
* The US dollar retreated in Europe Wednesday while the Chinese yuan rose sharply after economic data pointed to a recovery in the second largest economy in the world, sparking risk-on sentiment.
* Investors reeling from the recent volatility in global financial markets are eyeing another potential worry: a rebounding dollar. The dollar has risen nearly 4% from its recent lows and stands near a seven-week high against a basket of other major currencies, driven by bets the Federal Reserve will need to raise rates higher than many investors had previously forecast to cool inflation.
* The Chinese yuan rose sharply on Wednesday as stronger-than-expected business activity data ramped up bets of an economic recovery in the country, helping most other China-exposed currencies gain for the day.
* The dollar ticked higher against major currencies in choppy trading on Tuesday, on track for its first monthly gain since September on views that interest rates will stay elevated for some time as inflation remains stubbornly high, while recession fears kept investors on edge.
* The U.S. dollar traded higher in Europe Tuesday, on track to post strong gains this month, while sterling gave back some of its gains from the previous session after the U.K. signed a new post-Brexit trade deal with the European Union.
Data inference
* No Major Event.
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