© Reuters. The dollar has been increasing since a low of three years
Investing.com – The dollar rose on Tuesday in front of a basket of rivals, while the euro paused after reaching a peak of more than three years while the european central Bank could reduce its stimulus money.
The index dollar, which measures the greenback’s strength against a basket of currencies, is at 90.50 at 03:15 AM ET (08:15 AM GMT) ahead of 0.28% to 90.38 at 11:19 AM ET (16:19 GMT). It fell to a low of three years of 90.05 Monday.
The EUR/USD gives up 0.25% at 1.2235, which is close to a highest price reached since December 2014 Monday and estimated at 1.2296.
The dollar has broadly weakened in recent times, on the forecasts that the global economic recovery will exceed the us growth and will lead other major central banks to conduct monetary policy at a faster pace than expected.
Hopes that the ECB could soon begin to reduce its program of monetary stimulus have been strengthened on Monday after the member of the governing Council of the ECB, Ardo Hansson, said that the bond purchases could end in September if the economy te the inflation is progressing as planned.
The dollar advance against the yen, with USD/JPY up 0.22% to 110.69, ranging from a low of four months of 110.32 reached Monday.
In a report, the british Office for National Statistics said that the consumer price index (CPI) had increased since the previous year of 3.0% last month, in line with the forecast and after rising 3.1% in November, when it was the highest level since the spring of 2012.
The aussie and the kiwi declined, with the AUD/USD 0.795 and NZD/USD down 0.41% at 0.7270.