The US dollar ascended versus the euro and the Japanese yen Tuesday as Greece’s debt drama leaves the center stage, enabling markets to focus back on US and European yield differentials.
While traders await the timing of the Federal Reserve’s interest rate hikes, the European Central Bank and the Bank of Japan are seen continuing their monetary policies in the future.
The greenback ended at $1.007 per euro. Against the Japanese yen, the dollar touched ¥123.46.
Things went back to purchasing the US dollar, “with many in the market swiftly dropping Greece as a factor,” said Masashi Murata, Senior Currency Strategist at Brown Brothers Harriman.
Meanwhile, US retail sales data will be released later in the day.
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