The U.S. dollar moved higher on Tuesday, gaining ground against most of its major trading partners and hitting an intraday 22-month high.
The ICE U.S. Dollar Index, a measure of the buck's strength against six major rivals, was up 0.4% at 97.648. The index hit an intraday level at 97.78, its highest level since June 2017.
The Swiss franc is the worst-performing major currency, falling 0.5% versus the greenback. The move comes as traders appeared to build short positions versus the euro. "The EUR/CHF resumed its bullish trend in early April after the breakdown attempt below key support at 1.1200 failed," said Fawad Razaqzada, market analyst at Forex.com.
Elsewhere, the Australian dollar was unable to catch a bid from rising oil prices and fell 0.5% on Tuesday. Analysts are eyeing first-quarter inflation data scheduled for Tuesday evening, or Wednesday local time.
Source : Marketwatch