Dollar, safe-haven currencies rise as recovery optimism dims
The dollar nudged higher on Tuesday morning in Asia. Factors including poor economic data from China, the lingering COVID-19 Delta variant, and the current political instability in Afghanistan all contributed to dampen the market’s risk appetite, which boosted the safe-haven dollar.
The U.S. Dollar Index that measures the greenback against other major currencies climbed 0.05% to 92.668 by 10:43 PM ET (2:43 AM GMT).
The USD/JPY pair jumped 0.01% to 109.25.
The AUD/USD pair dropped 0.35% to 0.7311, while the NZD/USD pair also shed 0.50% to 0.6982.
The USD/CNY pair tallied a 0.07% increase to 6.4786, and the GBP/USD pair slid 0.19% to 1.3824.
The yen was also up versus other riskier currencies. The euro declined as low as 128.50 yen, the weakest since late March 2021. The Swiss franc hovered close to a nine-month high of 1.0720 touched earlier in the month against the euro. It traded at 1.0745 francs to the euro.
Investors are still mulling over China’s Monday industrial output and retail sales that declined more than expected in July.