The euro surged against the dollar Tuesday, rising as high as $1.2579, as investors took profits following four sessions of losses. The shared currency EURUSD, -0.05% last traded at $1.2556, compared to $1.2504 late Monday.
Many analysts heralded the dollar’s rise above the 87.000 threshold, which it passed for the first time in four years on Monday, as the beginning of an uptrend in the currency’s value. The dollar index DXY, +0.21% was down 0.33% on the day at 86.9780.
The kiwi NZDUSD, -0.09% traded at 78.12 cents, compared to 77.40 cents late Monday.
The pound remained flat against the greenback for most of Tuesday’s session, after data that showed a modest improvement in the country’s construction sector failed to make an impression with investors. Sterling GBPUSD, -0.20% traded at $1.5995, compared to $1.5981 Monday.
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