Dollar weakness was the theme of the day on Tuesday, and although there were no clear catalysts for the USD sell-off, oil recovery worked against the US currency for sure.
EUR/USD rose 2 big figures and scored a high of 1.1533 amid headlines about Greek debt negotiations. The pound also took advantage of a weaker greenback, with Cable rallying more than 200 pips to hit a 1-week high of 1.5197. USD/CHF was trading down 0.37% on the day around 0.9235, while USD/JPY was little changed at the 117.50 zone, after bouncing from a 3-week low of 116.84.
As for commodity currencies, the CAD was among the best performers as it benefitted from oil’s recovery, while the AUD managed to completely reverse post-RBA losses to end flat around 0.7800.
Data-wise, there were no first-tier data releases during the New York session, with only US factory orders falling 3.4% in December (vs -2.2% exp) to note.
In Wall Street, stocks ended sharply higher, supported by a 7% jump in crude oil prices. DJIA was 1.8% up, S&P500 and the Nasdaq gained 1.4% and 1.1% respectively.
Oil surged to a 2015 high above $54 a barrel and was last up 5.1% trading just above $52/bbl.
EUR/USD rose 2 big figures and scored a high of 1.1533 amid headlines about Greek debt negotiations. The pound also took advantage of a weaker greenback, with Cable rallying more than 200 pips to hit a 1-week high of 1.5197. USD/CHF was trading down 0.37% on the day around 0.9235, while USD/JPY was little changed at the 117.50 zone, after bouncing from a 3-week low of 116.84.
As for commodity currencies, the CAD was among the best performers as it benefitted from oil’s recovery, while the AUD managed to completely reverse post-RBA losses to end flat around 0.7800.
Data-wise, there were no first-tier data releases during the New York session, with only US factory orders falling 3.4% in December (vs -2.2% exp) to note.
In Wall Street, stocks ended sharply higher, supported by a 7% jump in crude oil prices. DJIA was 1.8% up, S&P500 and the Nasdaq gained 1.4% and 1.1% respectively.
Oil surged to a 2015 high above $54 a barrel and was last up 5.1% trading just above $52/bbl.
