Doha: The dollar rose on Tuesday, buoyed by a decline in both the euro and the yuan, as concerns over tariffs and a sluggish Chinese economy weighed heavily on the latter currencies. According to Qatar News Agency, the euro, which had been the weakest among the G10 currencies through November, experienced a 0.7% fall overnight. It was trading at $1.0489 early in the Asian market session. Meanwhile, China set the yuan's trading band at its lowest in over a year, causing the currency to drop to 7.2980 per dollar, its weakest since November 2023. In addition, the Australian dollar saw a 0.7% decrease to $0.6470, affected by a larger-than-expected current account deficit. However, an increase in government spending is anticipated to bolster growth. The New Zealand dollar also edged 0.2% lower to $0.5874. Conversely, the yen bucked the trend, trading near a six-week high amid growing speculation that Japan might soon raise interest rates. The yen, the only G10 currency to appreciate against the dollar last mon th, reached its strongest point since late October on Monday at 149.09 to the dollar and remained near that level on Tuesday.
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