On Tuesday, the Greenback failed to manage its gains and declined from one-week highs vs. a basket of the other major currencies. The single rose despite ongoing worries over political crises in Germany. Chancellor Angela Merkel, whose conservative bloc lost seats in September's election, said yesterday that she would prefer new elections rather than lead a minority government after talks to form the country's next government collapsed overnight.
On the economic calendar for Tuesday, markets are awaiting Yellen’s Speech at Stern Business School, as she is expected to mention to the U.S. monetary policy.
The EUR traded under pressure after German Chancellor Angela Merkel said she could not form a coalition government and would prefer a new election to ruling with a minority. The single currency rose as much as 0.04% vs. the USD with EUR/USD at $1.1738.
The Sterling pound rose as much as 0.07%, to settle at $1.3243.
Against the JPY, the Greenback fell as much as 0.16% at ¥112.44, settling above yesterday’s low of ¥111.87, which was its lowest since mid-October.
Gold prices edged higher positively affected by geopolitical tensions as President Donald Trump declared North Korea as a state sponsor of terrorism. Gold Futures - Dec 17 (GCZ7) rose by 0.41%, to settle at $ 1,280.51.
Oil prices recovered in ahead of weekly industry estimates on U.S. supplies.
Crude Oil WTI Futures - Dec 17 (CLZ7) fell as much as 0.23% at $56.55 and Brent Oil Futures - Jan 18 (LCOF8) was down by 0.43% at $62.49.
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