This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

U.S. Dollar Rises as Crude Oil Falls


NEW YORK ( TheStreet) -- The U.S. dollar regained some strength against the Chinese yuan Tuesday after China's central bank set a stronger central parity rate and oil prices retreated.

The Chinese yuan was trading sideways at 6.5527 per dollar Tuesday, after hitting a 17-year high of 6.5628 per dollar Monday. The Market Vectors Chinese Renminbi/USD ETN (CNY) fell 0.2% to $40.30 at the market close, while the PowerShares DB US Dollar Index Bullish (UUP) rose 0.4% to $22.06.

On Tuesday, the Chinese central government set its central parity rate at 6.5687, up from Monday's historical-low of 6.5651. The yuan fell against the U.S. dollar as the reference rate strengthened.

As the U.S. dollar gained strength, oil prices dipped. Light, sweet crude for April delivery fell 42 cents to settle at $105.02 per barrel.

The euro was slipping 0.5% against the dollar at $1.39, while the U.K. pound sterling was 0.3% weaker at $1.6157. CurrencyShares Euro Trust (FXE) fell 0.6% to $138.42 and CurrencyShares British Pound Sterling Trust (FXB) inched down 0.3% to $160.56.

"The U.S. dollar is paring some its recent losses, against the majors and most emerging markets as well, stemming in part from a technical correction and yesterday's reminder that the euro zone's debt crisis is not yet resolved," said Chandler.

On Monday, rating agency Moody's took Greece's credit rating down by three notches, worsening its junk-status.

Meanwhile, the U.K. pound sterling was unable to break past the $1.635 level, according to Chandler.

Oil plays most settled lower Tuesday.

BP (BP - Get Report) fell 0.7% to $47.81, Chevron (CVX - Get Report)rose 0.7% to $103.77 and Exxon Mobil (XOM - Get Report) lost 0.1% to $84.60.

>>Search for Highest Dividends by Rate or Yield

More on Earnings
Today's Top Earnings
Earnings Calendar

-- Written by Andrea Tse in New York.



>To contact the writer of this article, click here: Andrea Tse.

>To follow the writer on Twitter, go to Andrea Tse.

>To submit a news tip, send an email to: tips@thestreet.com.

Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
UUP $25.28 0.92%
FXB $151.82 -1.20%
FXE $108.14 -0.99%
BP $42.50 -0.93%
CVX $104.89 -0.57%

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs