The US dollar was modestly higher versus a basket of major currencies Tuesday, specifically against the euro and the British pound in thin trade, as various major financial centers were closed for holidays.
The greenback stood at $1.1146 per euro from Friday’s $1.1290. Against the Japanese yen, the dollar ended at ¥133.96 from ¥135.29.
Political uncertainty will remain high following the election. It could take four weeks to establish a government… “and view GBP as too expensive for the election and re-enter EUR/GBP longs,” according to analysts at JPMorgan.
Yesterday, Chicago Fed President Charles Evans gave no clarity on the timing of interest rate hikes this year.
The material has been provided by InstaForex Company – www.instaforex.com