The dollar regained some of its gains today and is hovering near the highest level in a week against major rival currencies, while bitcoin continued its rise thanks to optimism that US regulators may soon approve bitcoin exchange-traded funds.
The dollar rose slightly against the yen in early trading in Asia to 147.23, supported by a slowdown in core inflation in Tokyo, which put downward pressure on the Japanese currency.
Meanwhile, the euro approached the lowest level in three weeks, which was recorded on Monday, and was traded in the latest transactions at 1.0840 dollars. The dollar index also approached the highest level in more than a week and was recorded at the latest reading of 103.59.
Analysts say that the dollar’s rise is partly due to the cessation of intensive selling in the past few weeks, which saw the dollar index fall almost three percent during November, the largest monthly decline in a year.
The pound sterling rose 0.08% to 1.2642 dollars, but it was a bit far from the recent three-month highs, and the New Zealand dollar also moved slightly away from the four-month high recorded in the latest Transactions of 0.6173 dollars.
The Australian dollar settled at 0.6620 dollars ahead of the Reserve Bank of Australia’s interest rate decision due later on Tuesday, amid expectations that the central bank will keep the interest rate unchanged.
As for cryptocurrencies, bitcoin in the latest transactions recorded 41,873 dollars, a level not far from the peak of the previous session of 42,404 dollars, the highest since April 2022.
