Furthermore, The U.S. will lower the “de minimis” tariff on low-value shipments from China, according to a White House executive order on Monday. Another positive in developments between the two global powers.
European indexes and shares have remained positive despite pullbacks seen in US futures overnight. European stocks inched up on Tuesday, supported by positive corporate news that maintained markets at their highest level in six weeks. The STOXX 600 index across Europe gained 0.2% at the time of writing, marking its fourth day of growth in a row.
On the FX front, China’s yuan hit a six-month high at 7.1855/USD, boosting the Australian and New Zealand dollars.
The Aussie rose 0.64% to 0.6412, and the kiwi gained 0.55% to 0.5889, as these currencies often follow the yuan’s moves.
Meanwhile, the yen and euro recovered after sharp losses against a stronger dollar. The yen climbed 0.48% to 147.76/USD, bouncing back from a 2% drop on Monday. The euro rose 0.25% to 1.1114 after a 1.4% slide the previous night.
The dollar dipped 0.25% against the Swiss franc to 0.8429, undoing part of Monday’s 1.6% rise. Sterling edged up 0.16% to 1.3199.
Currency Strength Chart – Strongest to Weakest: NZD, AUD, CHF, JPY, EUR, GBP, CAD, USD
