Forex Today: US Dollar firms on safe-haven demand ahead of data-heavy Tuesday
Here is what you need to know on Tuesday, August 25:
The US Dollar Index (DXY) reclaimed the 99.00 mark for the first time since last Wednesday's plunge. The bid stems largely from safe-haven demand after United States (US) Treasury Secretary Scott Bessent set out a sharp escalation of the Iran sanctions campaign, pledging a "zero leakage" enforcement drive and warning that a major financial institution will be sanctioned within days.
The risk-off tone lifts Gold sharply and weighs on the growth-sensitive currencies, though it does not extend to Crude, which slips despite the geopolitical flare-up. Traders now look ahead to a busy Tuesday, headlined by Germany's IFO business surveys and a heavy run of US releases.
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Canadian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.14% | 0.10% | 0.11% | 0.57% | 0.30% | 0.30% | 0.19% | |
| EUR | -0.14% | -0.01% | -0.02% | 0.43% | 0.19% | 0.23% | 0.05% | |
| GBP | -0.10% | 0.00% | 0.02% | 0.45% | 0.20% | 0.24% | 0.06% | |
| JPY | -0.11% | 0.02% | -0.02% | 0.50% | 0.11% | 0.20% | 0.04% | |
| CAD | -0.57% | -0.43% | -0.45% | -0.50% | -0.33% | -0.19% | -0.38% | |
| AUD | -0.30% | -0.19% | -0.20% | -0.11% | 0.33% | 0.04% | -0.10% | |
| NZD | -0.30% | -0.23% | -0.24% | -0.20% | 0.19% | -0.04% | -0.19% | |
| CHF | -0.19% | -0.05% | -0.06% | -0.04% | 0.38% | 0.10% | 0.19% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
EUR/USD eases below the 1.1700 handle, drifting toward the mid-1.1600s as the firmer Dollar and pre-data caution keep the Euro on the defensive.
GBP/USD stays on the back foot, hovering around 1.3630 with no United Kingdom (UK) data on the slate to lend the Pound support.
USD/JPY holds firm north of 159.00, grinding higher as the Japanese Yen (JPY) slips against a broadly stronger US Dollar.
AUD/USD is the day's laggard, receding toward 0.7150 on risk aversion and a firmer Greenback with the Reserve Bank of Australia (RBA) Minutes starting the Asian session and Australian inflation figures looming late in Tuesday's session.
Gold catches a strong safe-haven bid, climbing to just shy of the $4,650 mark per troy ounce as the Iran headlines drive demand.
West Texas Intermediate (WTI) Oil gives back ground, easing toward $85.00 per barrel area despite the escalation in US-Iran tensions.
Germany's second-quarter Gross Domestic Product (GDP) is expected to hold at a subdued pace, but the focus is on the August IFO surveys, where the Business Climate index is expected to improve to 87.2 from 86.6, and the current assessment and expectations gauges are also expected to firm. French Consumer Confidence rounds out the morning.
The US session is packed with ADP's four-week average employment figure kicking things off, followed by house-price data, the Conference Board's Consumer Confidence, New Home Sales and the Richmond Fed Manufacturing Index, with a 2-Year Note auction and the API weekly crude stock report later on.
Late in the day, attention swings back to Australia, where the monthly Consumer Price Index (CPI) is expected to cool to 3.2% from 3.8%, alongside the trimmed mean measure and second-quarter construction data, a batch that will set the tone for the Australian Dollar into the Wednesday open.
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