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The U.S. dollar dipped against the Chinese Yuan currency during the early Monday morning trade. The Chinese Yuan was the most notable mover as it climbed 0.3% against the U.S. dollar. The Asian currencies performed better today as the U.S. dollar dipped in the day’s trade. Also Read: Russia Calls Oil-Producing Countries To Ditch US Dollar Currency China’s renminbi is receiving support from investors as the dollar reached its peak at 104 in the DXY index. Despite holding on steady, the DXY index experienced a brief dip making the U.S. dollar lose value against Asian currencies. Even the Indian Rupee saw a facelift on Monday after being trampled to an all-time low by the USD on Friday. The Indian Rupee fell to an all-time low of 83.59 on Friday but recovered to 83.46 on Monday’s opening bell. In addition, the Japanese Yuan also performed better against the U.S. dollar reaching 151.31. While the Yen is only slightly higher, the Asian markets’ positive...

Ahead of the Feds FOMC meeting, the US dollar gained a foothold in the global markets trouncing leading commodities and local currencies. The US dollar’s DXY Index steadily climbed in the last 24 hours touching a high of 103.90 on Wednesday. The currency was at the 102 level early this month but sustainably scaled up in the charts. The development indicates that currency investors have not given up on the US dollar’s prospects. Also Read: 4 Central Bank Events To Dictate US Dollar Prospects This Week Source: MarketWatch.com Simultaneously, GOLD prices dipped this week as the US dollar strengthened in the indices. Gold fell to the $2,150 level after sustainably scaling up in the charts for two weeks straight. The XAU/ USD GOLD index had touched a new all-time high of $2,180 this month. Gold’s bullish sentiments are now paused as investors are looking to book profits in the currency markets. Source: Investing.com Also Read: BRICS: US Dollar Losing Dominan...