In currency markets, many of Monday’s big moves saw minor reversals. A host of emerging market currencies gained against the dollar. Many, like the South African rand and Russian ruble, had fallen sharply on Monday.
The euro and the yen weakened against the dollar after surging on Monday. The European and Japanese currencies have recently tended to rise as markets come under strain, as investors exit bets that they will fall against the dollar. The euro was down 1.0% against the buck at $1.1474. The dollar strengthened 1.3% against the yen to ¥120.203.
