Page 37 - Urrencies News Today

The beginning of a new trading week saw relentless selling pressure on the Aussie dollar, pushing AUD/USD to the sub-0.6500 zone for the first time since mid-November.

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The EUR/USD fell another half-percent on Monday, dragging the pair into 12-week lows near 1.0723 after EU economic data failed to inspire investor confidence.

Here is what you need to know on Tuesday, February 6: The US Dollar (USD) started the new week on a bullish tone, with the USD Index rising 0.5% on Monday and reaching its highest level since mid-November above 104.50.

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The AUD/JPY cross attracts some dip-buying near the 96.25 region during the Asian session on Tuesday and jumps to a fresh daily peak after the Reserve Bank of Australia (RBA) announced its policy decision.

Amidst the seismic US jobs report ongoing aftershocks, US stocks experienced a dip on Monday following Federal Reserve Chair Jerome Powell's less dovish remarks on 60 Minutes, which tempered expectations for imminent and frequently recurrent interest rate cuts.

EUR/USD staged a technical correction and rose above 1.0750 early Tuesday after touching its weakest level since mid-November near 1.0720 on Monday.

In Tuesday's session, the EUR/GBP pair was seen taking a dip to 0.8540, falling below the 20-day Simple Moving Average (SMA).

The US Dollar (USD) Index, currently trading at 104.20, has been on a downward trend due to investors cashing in their profits alongside the impact of statements from Loretta Mester, the president of the Federal Reserve Bank of Cleveland.