The U.S. dollar strengthened against the other major currencies in the Asian session on Tuesday.
The U.S. dollar rose to a 2-1/2-month high of 121.78 against the yen and nearly a 1-1/2-month high of 1.2327 against the Canadian dollar, from yesterday’s closing quotes of 121.54 and 1.2307, respectively.
Against the euro, the pound and the Swiss franc, the greenback advanced to a 4-week high of 1.0930, more than a 2-week high of 1.5431 and nearly a 4-week high of 0.9473 from yesterday’s closing quotes of 1.0976, 1.5466 and 0.9445, respectively.
If the greenback extends its uptrend, it is likely to find resistance around 122.80 against the yen, 1.28 against the loonie, 1.06 against the euro, 1.50 against the pound and 0.98 against the franc.
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