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Currencies lift after US dollar takes a dip

Major currencies have been given a boost courtesy a dip in the US dollar as European trading got underway on Tuesday.

The dollar index, a measure of the US currency against a basket of global peers, had been trending lower through Asian trade, but sank as much as 0.2 per cent as the European traders arrived at their desks. The buck was down 0.1 per cent at 97.3 at pixel time.

That gave a boost to other major currencies, which had been trending higher for most of the day.

The euro was up 0.1 per cent to $1.1197 while the British pound added 0.1 per cent to $1.2733.

The Australian and New Zealand dollars were up 0.3 per cent and 0.2 per cent, respectively, making them the best-performing G10 currencies. The Japanese yen gained 0.2 per cent to ¥111.69 per dollar.

China’s renminbi strengthened 0.2 per cent to Rmb6.8271.