U.S. Dollar Edges Up Amid Crypto Sell-off


The U.S. dollar inched up in late trading on Tuesday amid a sell-off of crypto currencies in the afternoon.

The dollar index, which measures the greenback against six major peers, increased 0.06 percent to 103.0454 in late trading.

The prices of Bitcoin and Ethereum dipped more than 1 percent in the afternoon session, indicating worsening of risk appetite in the market.

The dollar index has been consolidating in a narrow range since Monday as the U.S. market remains in holiday mode on the occasion of July 4th.

The U.S. dollar index was mostly flat in quiet trading as traders were not ready for big moves during the U.S. holiday, noted Vladimir Zernov, analyst with market information supplier FX Empire.

In late New York trading, the euro fell to 1.0887 U.S. dollars from 1.0912 dollars in the previous session, and the British pound increased to 1.2719 U.S. dollars from 1.2690 dollars in the previous session.

The U.S. dollar bought 144.4930 Japanese yen, lower than 144.7190 Japanese yen of the previous session. The U.S. dollar was up to 0.8968 Swiss franc from 0.8964 Swiss franc, and it decreased to 1.3224 Canadian dollars from 1.3252 Canadian dollars. The U.S. dollar decreased to 10.8142 Swedish Krona from 10.8286 Swedish Krona.