Forex Pros – The U.S. dollar was lower against its all of its major counterparts on Tuesday, weakened by the perception the U.S. Federal Reserve is unlikely to tighten the bank’s policy in the immediate future.
During European morning trade, the greenback was lower against the euro, with EUR/USD easing up 0.13% to hit 1.4600.
Earlier in the day, European Central Bank President Jean-Claude Trichet said he “entirely” shared the U.S.’s view that a strong dollar is in the U.S. interest.
The greenback was also down against the pound, with GBP/USD rising 0.12% to hit 1.6516.
Elsewhere, the greenback was down against the yen and the Swiss franc with USD/JPY sliding 0.19% to hit 81.67 and USD/CHF shedding 0.36% to hit a fresh record low of 0.8776.
Earlier in the day, official data showed that Switzerland’s trade surplus narrowed more-than-expected in March.
In addition, the greenback was lower against its Canadian, Australian and New Zealand cousins, with USD/CAD slipping 0.18% to hit 0.9525, AUD/USD rising 0.19% to hit 1.0740 and NZD/USD gaining 0.43% to hit 0.8027.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.19%.
Later Tuesday the U.S. was to publish reports on house price inflation and consumer confidence, as well as official data on manufacturing activity in Richmond.
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