The US Dollar (USD) traded in a negative fashion, extending Monday’s losses and revisiting the area of multi-day lows. Indeed, renewed concerns over the US economy kept the currency under pressure on Tuesday, while fresh trade jitters also contributed to the sour mood.
US natural Gas prices slumped to a multi-week low as robust storage builds and mild weather forecasts dampened demand expectations, ING's commodity experts Ewa Manthey and Warren Patterson note.
The Indian Rupee (INR) weakens on Tuesday. Consumer inflation in India fell more than expected to a near six-year low in April, strengthening bets that the Reserve Bank of India (RBI) is due to extend its rate cutting cycle. This, in turn, undermines the Indian currency.