The U.S. dollar dropped today after the demand for the currency as the safe haven was diminished today by the rising equities, boosted by the higher than expected company earnings.
The Apple Inc. reported that its quarterly profit almost doubled, causing its shares to jump as much as 8.3 percent. The increasing confidence prompts the investors to seek the higher-yielding currencies, forgoing the safe ones. This trend also affected the Japanese yen.
GBP/USD traded at about 1.5415 today as of 9:34 GMT up from the opening price of 1.5356. USD/CHF traded at 1.0663.
If you want to comment on the U.S. dollar’s recent action or have any questions regarding this currency, please, feel free to reply below
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