The Dollar Falls As Safe-Haven Demand Falls Amid Progress in Ukraine Peace Talks

On Tuesday, the US dollar lost momentum against most of its main competitors, as news of progress in Russia-Ukraine cease-fire negotiations dampened demand for the safe-haven currency.

According to Reuters, Russia's deputy defense minister said that the country has decided to severely reduce its military action in Kyiv and Chernihiv. Ukrainian negotiators suggested neutrality in return for security assurances.

On the economic front, the Labor Department reported that the number of job opportunities in the United States in February 2022 was 11.266 million, slightly changed from an upwardly revised 11.283 million in January.

The S&P CoreLogic Case-Shiller 20-city house price index in the United States increased 19.1% in January 2022, the highest since September, after a revised 18.9% increase the previous month.

According to a Conference Board survey, consumer confidence in the United States increased unexpectedly in March.

According to the data, the Conference Board's consumer confidence index increased to 107.2 in March from 105.7 in February. Economists had predicted that the index would fall to 107.0 in March, down from 110.5 in February.

The dollar index fell to a low of 98.04, and after rebounding to 98.42, it was still over 0.7 percent down from the previous closing.

The dollar is trading at $1.1089 against the Euro, down over 1% from Monday's finish of $1.0988.

The dollar is trading at $1.3095 per pound sterling, down from $1.3092.

The dollar is weak against the Japanese yen, fetching 122.89 yen per unit, down from 123.91 yen on Monday.

The dollar has fallen to 0.7508 from 0.7489 against the Australian dollar.

The Swiss franc has risen to 0.9309 per dollar, up from 0.9344 before. The Loonie is slightly higher than the US dollar, trading at C$1.2504.