Banking and Finance

Dollar holds firm near two-week high as Asia trade opens

The US dollar steadied near its highest level in two weeks as Asian markets opened on Tuesday, buoyed by easing concerns over Venezuela and signals from Federal Reserve officials.

Washington: The dollar index, which tracks the greenback against a basket of six major currencies, edged up 0.04 per cent to 98.36, after snapping a four-day winning streak in the previous session.

In Asia-Pacific trading, commodity-linked currencies weakened, with the Australian dollar down 0.1 per cent at $0.6713, while the New Zealand dollar slipped 0.1 per cent to $0.5784. The dollar strengthened against the Japanese yen, rising 0.2 per cent to 156.72.

Despite the early firmness, the dollar faced fresh pressure after data showed US manufacturing activity contracted more sharply than expected in December, marking its weakest level in 14 months.

Elsewhere, the greenback was largely unchanged against the Chinese yuan in offshore trading in Hong Kong, holding steady at 6.983 yuan. The euro eased 0.1 per cent to $1.1713, while the pound sterling also declined 0.1 per cent to $1.3533.

In the cryptocurrency market, prices moved lower, with Bitcoin slipping 0.2 per cent to $93,900.82 and Ether falling 0.4 per cent to $3,226.50, reflecting a cautious tone among investors.

The dollar index rose slightly to 98.36, maintaining its strength near a two-week high as Asia-Pacific trading opened. Commodity-linked currencies like the Australian and New Zealand dollars weakened, while the dollar gained against the yen. Despite early gains, the dollar faced pressure from weak US manufacturing data, while cryptocurrencies like Bitcoin and Ether also saw declines.

Indian Super League to kick off on February 14

Lionel Messi lands in Mumbai, set for celebrity match and charity show

In Pictures: India trains for a comeback in the T20I series against South Africa

India crush South Africa by 101 runs as Hardik, Varun and Bumrah steal the spotlight in T20I opener

350 players, 77 seats, IPL 2026 mini-auction set for high-stakes showdown in Abu Dhabi