Forex: US Dollar Remains Down As China Lifts Interest Rates

The US dollar remained lower against most major rivals on Tuesday, after China lifted interest rates for the third time since October.

The People’s Bank of China hiked its key lending and deposit rates each by 25 basis points. The dollar index, measuring the US unit against a basket of six currencies, lost 0.25% to 77.84, compared with 77.994 in North American trade late Monday.

Against the greenback, the Australian dollar gained 0.0888%, or $0.0009, to $1.0139. Against the US dollar, the euro gained 0.4565%, or $0.0062, to $1.3648, up $1.3597 in late North American trading on Monday.