Mubasher: The US dollar rose during Tuesday’s trade to a basket of foreign currencies, for the second consecutive day, on the back of positive macroeconomic data.
The data of the American Institute for Supply Management (ISM) recently showed a surge in the US industrial index to its highest level in 13 years.
Returns on American bonds also went up during September, as the Federal Reserve plans to raise interest rates and reduce the budget during October.
By 12:00 PM (GMT), the USD grew 0.2% in front of the Japanese Yen, and it also increased by the same percentage to the foreign currencies basket by the same percentage, reaching its highest points since 17 August.
Similarly, the dollar levelled up 0.1% in front of the GBP, and settled versus the Swiss franc.
It is worth noting that despite the recent gains for the US dollar, it dropped 8% this year, its lowest decline in 10 years.
