Investing.com - The U.S. dollar surged on Tuesday after the U.S. Trade Representative delayed tariffs on a number of items, including toys and computer consoles.
The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, gained 0.4% to 97.570 by 10:46 AM ET (14:46 GMT).
Tariffs on Chinese goods are being delayed to Dec. 15, while certain products are being removed due to “health, safety, national security and other factors.”
The announcement of the tariffs in early August caused a selloff on the greenback as investors feared the U.S. and China would not end their year-long trade dispute.
The Japanese yen, which is seen as a safe-haven in times of market turmoil, fell with USD/JPY jumping 1.3% to 106.63.
The euro fell as political uncertainty in parties in Italy continued, with EUR/USD falling 0.2% to 1.1184. GBP/USD inched up 0.1% to 1.2079.
Meanwhile, the Argentine peso continued to trade near all-time lows but pared some losses, as investors feared the country could return to instability after Argentine President Mauricio Macri suffered a surprise defeat in primary elections on Sunday. USD/ARS rose 8% to 56.15 per dollar, after crumbling to 61.99 on Monday.