The collapse of American banks is prompting markets to bet on the Fed not rising. In this atmosphere, the greenback collapses. On the South African side, the rand is rising ahead of data on the mining and manufacturing industry.

The dollar slumped near its lowest level in several weeks on Tuesday. The greenback suffered significant losses in the previous session at the start of trading in Asia, and was last in the slightly higher position against the Japanese yen at 133.42, after losing 1.4% on Monday. Similarly, sterling fell by 0.19% to $1.2159, although it remained close to its one-month peak of $1,2200 reached in the previous session. The euro fell 0.09% to $1.0719, but was not far from its one-month high on Monday at $1.07485.

Compared to a basket of currencies, the Dollar Index rose 0.09% to 103.77, after sliding 0.9% on Monday and reaching a one-month low of 103.47. The Aussie fell by 0.29% to $0.6648, reversing part of its 1.3% jump in the previous session, while the kiwi lost 0.18% to $0.6209, after also jumping 1.4% on Monday.

The South African rand rose slightly in early trading on Tuesday, before mining and manufacturing data were released later in the day. At 0625 GMT, the rand traded at 18.2000 against the dollar, more than 0.1% firmer than its closing level on Monday.