The US dollar rose to 4-month highs against most major currencies on Tuesday, the euro settled near a seven-month low, and the yuan fell to a more than three-month low as Europe and China are the main targets of possible Trump tariffs.
DXY
The US dollar index, which measures the currency against six peers including the euro, rose 0.17% to 105.80 so far.
Expectations of superior US economic performance and aggressive trade practices from the Trump administration continue to push the US dollar higher.
Markets are also pulling back on expectations of future Fed cuts, with a cut at the December meeting also being questioned.
BTCUSD
The leading cryptocurrency pushed bitcoin to a new historical peak near the levels of 90 thousand dollars today, as Trump had vowed to make the United States the cryptocurrency capital of the planet, and bitcoin is expected to end the year at about 100 thousand dollars.
AUDUSD
The Australian dollar also fell, which tends to be affected by the economic outlook of China, Australia's largest trading partner.
EURUSD
The euro fell strongly to 1.0625 dollars overnight, as the common currency feels additional pressure from political uncertainty in the bloc's largest economy, Germany, after opposition calls for an early parliamentary vote to open the way for early elections.
Consumer inflation readings from across the region are due out on Tuesday, including Germany.
GBPUSD
The British pound is also weakening and is now trading near the levels of 1.2800 dollars ahead of the release of employment data that may provide evidence of the pace of interest rate cuts by the Bank of England.
