WASHINGTON (dpa-AFX) - The U.S. dollar firmed against most of its major counterparts on Tuesday on safe-haven buying amid an escalation in the Russia-Ukraine crisis and worries about global growth due to stringent sanctions on Russia.
Over the weekend, the U.S. and some western countries moved to block certain Russian banks access to the SWIFT international payment system. Following this, Russian President Vladimir Putin unveiled his own measures by banning residents from transferring hard currency abroad.
Russian forces intensified shelling on key cities in Ukraine, which include Kyiv, Kharkiv and Mariupol.
The first round of talks between Russia and Ukrain ended without a breakthrough. Ukrainian President Volodymyr Zelensky said that the second round of talks aimed at ending Russia's attack on Ukraine will take place soon.
In U.S. economic news, the IHS Markit US Manufacturing PMI was revised lower to 57.3 in February of 2022, from a preliminary estimate of 57.5 but above the previous month's final reading of 55.5.
According to a report from the Institute for Supply Management, the ISM Manufacturing PMI for the US rose for a second straight month to 58.6 in February of 2022 from 57.6 in January and compared to market forecasts of 58. This latest reading showed that the overall economy expanded for the 21st consecutive month.
The dollar index, which climbed to 97.58, retreated from that level and gave up some gains. The index is hovering around 97.35, up more than 0.6% from the previous close.
Against the Euro, the dollar is trading at $1.1129, gaining from $1.1220 on Monday.
The dollar is trading at $1.3325 against Pound Sterling, firming about 0.7% from $1.3415.
The dollar is trading at 114.89 yen, easing marginally from 114.97 yen.
Against the Aussie, the dollar is at 0.7254, up from 0.7263.
The Swiss franc is trading at 0.9189 a dollar, down from the previous close of 0.9170.
The Loonie is weaker by about 0.5% at C$1.2742 a U.S. dollar, dropping from C$1.2677.
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