The dollar rose to a near seven-week high against the yen on Tuesday as easing tensions over Syria and encouraging Chinese economic data eroded demand for the safe-haven Japanese currency.
The yen also weakened to a 3-1/2-month low against the euro, while the higher-yielding Australian and New Zealand dollars rallied as investors’ appetite for risk increased.
Syria accepted a Russian proposal on Tuesday to give up chemical weapons and win a reprieve from U.S. strikes. The diplomatic initiative marks a sudden reversal after weeks in which the West appeared finally headed toward intervention in a 2-1/2-year-old war.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015