Commodity currencies Norwegian crown and the Australian dollar recovered some ground on Tuesday after hitting their lowest levels in nearly two years against the U.S.
The Norwegian crown and the Australian dollar recovered some ground on Tuesday after hitting their lowest levels in nearly two years against the U.S.
The dollar was choppy on Tuesday, fluctuating between modest gains and declines as it held near a two-decade high ahead of a key reading on inflation that could provide insight on the path of Federal Reserve monetary policy.
Falling commodity prices dragged the Australian and Canadian currencies lower on Tuesday, although the dollar was steady against most other majors while bitcoin continued to tumble.
The Australian dollar hit its lowest level in nearly two years against the dollar on Tuesday and other commodity currencies also fell, hurt by fears of slowing global economic growth.
The dollar rose on Tuesday, after fluctuating between modest gains and declines earlier in the session as it held near a two-decade high ahead of a key reading on inflation that could provide clues on the Federal Reserve's monetary policy path.
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