The U.S. dollar dropped against most major currencies on Tuesday as investors were digesting the latest development of trade relations between China and the United States.
China will launch a number of landmark measures this year to significantly broaden market access, Chinese President Xi Jinping said on Tuesday.
He also pledged measures including significantly lowering import tariffs for vehicles and some other products, and enhancing the protection of intellectual property rights.
Xi's comments greatly relieved long-held market anxiety for a potential trade war between the world's two largest economies.
Analysts said with the eased trade tensions, investors began to seek higher return in riskier assets. As a result, relatively high-yielding currencies such as the Australian dollar and the Canadian dollar all rose against the greenback.
The dollar index, which measures the greenback against six major peers, decreased 0.24 percent at 89.625 in late trading.
In late New York trading, the euro rose to 1.2358 dollars from 1.2322 dollars in the previous session, and the British pound increased to 1.4181 dollars from 1.4132 U.S. dollars in the previous session. The Australian dollar was up to 0.7766 dollar from 0.7703 dollar.
The U.S. dollar bought 107.19 Japanese yen, higher than 106.77 Japanese yen of the previous session. The U.S. dollar was up to 0.9567 Swiss franc from 0.9563 Swiss franc, and it fell to 1.2592 Canadian dollars from 1.2704 Canadian dollars.
China will launch a number of landmark measures this year to significantly broaden market access, Chinese President Xi Jinping said on Tuesday.
He also pledged measures including significantly lowering import tariffs for vehicles and some other products, and enhancing the protection of intellectual property rights.
Xi's comments greatly relieved long-held market anxiety for a potential trade war between the world's two largest economies.
Analysts said with the eased trade tensions, investors began to seek higher return in riskier assets. As a result, relatively high-yielding currencies such as the Australian dollar and the Canadian dollar all rose against the greenback.
The dollar index, which measures the greenback against six major peers, decreased 0.24 percent at 89.625 in late trading.
In late New York trading, the euro rose to 1.2358 dollars from 1.2322 dollars in the previous session, and the British pound increased to 1.4181 dollars from 1.4132 U.S. dollars in the previous session. The Australian dollar was up to 0.7766 dollar from 0.7703 dollar.
The U.S. dollar bought 107.19 Japanese yen, higher than 106.77 Japanese yen of the previous session. The U.S. dollar was up to 0.9567 Swiss franc from 0.9563 Swiss franc, and it fell to 1.2592 Canadian dollars from 1.2704 Canadian dollars.
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