Home Market The U.S. Dollar fell Tuesday. How about the Aussie? 

The U.S. Dollar fell Tuesday. How about the Aussie? 

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Tuesday saw a decline in the U.S. Dollar. How about the Aussie? 

Today’s trading session saw the U.S. dollar trade in the red, with a sharp drop. It traded in the red despite this, but it was close to its previous session highs thanks to U.S. service data. This suggested that the Federal Reserve may continue to pursue a higher interest rate policy in the future.

Monday saw the greenback experience its strongest surge in two days. The dollar index fell 0.1% to 105.05 today against six major currencies. On Monday, USD dropped briefly to 104.1, its lowest level since June 28. However, it rebounded after data showed unexpectedly high U.S. services sector activity in the last month.

Commerzbank’s FX Analyst, You-Na Park Heger, stated that the longer the American economic is strong, the more doubts will increase about whether the United States will experience a recession by 2023. Traders also speculate about the central bank’s policy decision.

The Federal Open Market Committee (FOC) will announce on December 15 its decision regarding future rate hikes. The investors bet on a half point increase to a 4.25-4.5% policy range, along with a terminal rate a little higher than 5% in…



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