The dollar edged slightly higher against the euro, pound and Canadian dollar on Tuesday, driven by a decline in the value of the Japanese yen and, more significantly, the Chinese yuan, according to reports from Zonebourse.com.
The dollar index rose to 97.93, reversing most of the losses incurred since last Thursday. The yuan experienced a 0.35% drop to 6.8830, while the yen fell 0.75%, contributing to the dollar’s gains. The Swiss franc demonstrated resilience, gaining 0.2% against the euro to 0.9110 and 0.15% against the dollar.
The yen’s weakness stems from growing doubts about the possibility of an interest rate hike when Japan’s new fiscal year begins on April 1st. Japanese Prime Minister Sanae Takaichi reportedly expressed reservations about future rate increases by the Bank of Japan, following indications from Governor Kazuo Ueda regarding potential adjustments during the last monetary policy meeting.
The dollar received marginal support from an improvement in U.S. Consumer confidence in February. The Conference Board’s monthly survey registered a score of 91.2, up from a revised 89.0 in January. The initial January reading was 84.5, falling short of the Reuters consensus estimate of 87.0.
In the U.S. Housing market, the S&P/CS Composite index, tracking prices in 20 major metropolitan areas, increased by 1.4% year-over-year in December, slightly exceeding the expected 1.3% rise. This followed a 1.4% increase in November. Despite a growing supply of existing homes and a decrease in buyers, housing prices remain stable, presenting an unexpected trend.
As of 22:26 UTC on February 24, 2026, one Chinese Yuan Renminbi (CNY) was equivalent to 0.123363 Euros, according to XE.com. The exchange rate between the Euro and the Chinese Yuan Renminbi is 8.10616 CNY to 1 EUR.
