Yen rises after upbeat economic data
The Japanese yen rose against most currencies on Tuesday, after the release of strong economic data.
Data showed that the Tokyo Core CPI rose 0.4% in July, beating forecasts of 0.2%, and the monetary base index rose 9.8%, also higher than forecasts of 7.1%.
Concerns mounted over the coronavirus crisis in Japan and other parts of the world, as infections and deaths continued to spike globally.
Johns Hopkins University reported that infections rose to 18.3 million confirmed cases globally, with more than 4.8 million in the US alone.
As of 20:51 GMT, USD/JPY fell 0.2% to 105.7, after hitting a high of 106.2 and a low of 105.6.
Silver jumps over 6%, closes above $26/oz
Silver prices surged on Tuesday, as the US dollar held against most currencies.
Precious metals were lifted today by the lingering uncertainty about the coronavirus crisis, as infections and deaths are rising globally.
Johns Hopkins University reported that infections rose to 18.3 million confirmed cases globally, with more than 4.8 million in the US alone.
Otherwise, the leaders of the Democratic and Republican parties in the US Congress are still debating on the second stimulus package to support the US economy from the coronavirus.
The dollar index held against a basket of currencies at 93.3 points as of 20:53 GMT, after it hit a high of 93.8 and a low of 93.2.
Silver September futures rose 6.6% to close of $26.028 an ounce, after hitting a day high of $26.26 and a low of $24.24.
Dollar pauses, gives up gains
The US dollar paused against most currencies on Tuesday, to erase its earlier gains.
Coronavirus infections rose to 18.3 million confirmed cases globally, with more than 4.8 million in the US alone, according to Johns Hopkins University data.
The US Department of Labor will release of the monthly jobs report on Friday, which will deliver cues and insight on the state of the labor market, unemployment and wages.
Several Federal Reserve members stressed gloomy expectations for that that US economy, and emphasized the need for further support from the Congress in addition to the monetary policy.
Bearing in mind that the Fed kept the interest rate unchanged near zero and pledged on taking all the necessary tools and measures until the economy recovers and returns to its growth path.
The dollar index held against a basket of currencies at 93.3 points as of 19:13 GMT, after it hit a high of 93.8 and a low of 93.2.
Gold closes above $2,000 for first time in history
Gold futures closed higher on on Tuesday, to settle above the $2,000 barrier for the first time ever, as the US dollar held against most currencies.
The markets are focusing on the coronavirus crisis, as infections rose to 18 million confirmed cases globally, with more than 4.8 million in the US alone.
The markets are also anticipating the release of the US monthly jobs report this week, amid expectations for more new jobs added in July.
The dollar index held against a basket of currencies at 93.3 points as of 19:37 GMT, after it hit a high of 93.8 and a low of 93.2.
Gold December futures rose 1.7% or $34.7 to close of $2,021 an ounce (the all-time highest close), after hitting a day high of $2,029.9 and a low of $1,982.6.