Page 49 - Urrencies News Today

Here is what you need to know on Tuesday, January 23: The US Dollar (USD) struggles to find demand early Tuesday, with the USD Index sliding below 103.00 during the European trading hours.

The Dollar is softer and pro-cyclical currencies are following the Yuan higher after news that China is preparing a CNY 2tn rescue package for the stock market.

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After posting marginal losses on Monday, EUR/USD benefited from the renewed US Dollar (USD) weakness and climbed above 1.0900 in the early trading hours of the European session on Tuesday.

On Tuesday's session, the NZD/JPY pair made gains to 90.15 due to a 0.30% increase.

The strong presence of the risk-off sentiment lent extra legs to the US Dollar and prompted a marked correction in the risk-linked galaxy on Tuesday, as market participants quickly digested the BoJ event and got ready for the publication of advanced PMIs on Thursday as well as the BoC interest rate decision.

Sellers won’t just let go. Extra weakness hurt the Aussie dollar and motivated AUD/USD to extend the negative performance for the second session in a row on Tuesday, exacerbating the gloomy start of the new trading week.

The US Dollar (USD) index has been experiencing an uptrend, with the index currently trading up to the 103.70 level.

On Monday, the People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.1105 as compared to Friday's fix of 7.1167 and 7.1870 Reuters estimates.

The Japanese Yen (JPY) kicks off the new week on a positive note and recovers further from its lowest level since November 28 touched on Friday against the US Dollar (USD).