Dollar falls as lower oil prices, Ukraine talks boost euro, pound
NEW YORK/MILAN (Reuters) – The U.S. dollar lost value to the euro and other major currencies on Tuesday after oil prices fell on indications of COVID-crimped economic growth in China amid ongoing talks to halt the Russia-Ukraine conflict.
The dollar index against major currencies fell nearly 0.4% to 98.735 but was still up nearly 3% since Russia invaded Ukraine on Feb. 24.
The euro and British pound each gained about 0.5% on the greenback, which also lost 0.2% against the Japanese yen.
Brent crude futures dropped as much as 8% after concerns over supply were eased by ongoing Ukraine ceasefire talks and as rising COVID-19 cases in China suggested slower economic growth and less demand for oil.
