Daily Forex News

During European deals on Tuesday, the dollar soared to a 1-month high against the yen as investor hopes of an economic stimulus plan from the incoming U.S. administration increased. The dollar also surged to new multi-week highs against the euro and the franc.

During European deals on Tuesday, the dollar soared to a 1-month high against the yen as investor hopes of an economic stimulus plan from the incoming U.S. administration increased. The dollar also surged to new multi-week highs against the euro and the franc.

During early European deals on Tuesday, the yen pared the gains it posted in Asian trading against most major currencies as the European stocks opened higher for a sixth straight day as investors continued to increase hopes on an economic stimulus plan from the incoming U.S. administration. Most Asian shares were also closed higher today. The yen thus plunged to a 1-month low against the dollar and a new multi-week low against the pound. Meanwhile, the yen eased from a 13-day high against the franc.

The Japanese yen traded higher against its major counterparts during Asian trading on Tuesday. The yen jumped to a 6-day high against the euro and a 13-day high against the franc.

The Australian dollar that declined against its major counterparts in early Tuesday Asian trading reversed direction shortly. The aussie thus recovered from a 4-day low against the Canadian dollar.