US Dollar Outshines the Chinese Yuan, Japanese Yen & Indian Rupee
Leading Asian currencies that threatened to uproot the US dollar as the world’s reserve currency are bleeding in the charts. Local currencies are facing difficulties in the forex markets as the US dollar is strengthening in the indices this week. This month alone, the US dollar trampled the Chinese Yuan , Indian Rupee , and the Japanese Yen in the currency markets. Also Read: Iranian Drones Sink Asian Markets: Will US Stocks Crash Today? Source: MarketWatch The DXY index, which measures the performance of the US dollar shows the currency hovering around the 105.96 price level. It had touched a day’s high of 106.07 before briefly retracing in price on Monday’s opening bell. Local currencies like the rupee, yuan, and yen have fallen to new lows this month against the US dollar. Also Read: US Dollar Continues To Lose Purchasing Power Against Mexican Peso US Dollar Makes the Chinese Yuan, Indian Rupee & Japanese Yen Fall To New Lows Source: Freepik...