Dollar teeters near one-year low; euro climbs to 17-month peak
The U.S. dollar index , which measures the greenback against a basket of six currencies, fell as low as 99.587, languishing near Friday's trough of 99.574, its lowest since April 2022.subsided further with consumer prices registering their smallest annual increase in more than two years. That took pressure off the Federal Reserve to continue raising interest rates.
"Momentum is clearly on the bearish side, but at the same time, it's starting to look a bit stretched," Pesole said, noting recent multi-month highs in the euro and sterling. "If the Fed sounds hawkish as they hike next week, markets might want to reassess euro-dollar lower." "More market participants have priced in chances of BOJ widening its yield curve control policy's trading band by 25 bps in the next meeting," said Ryota Abe, an economist at SMBC.of the Reserve Bank of Australia's July policy meeting released on Tuesday provided no major surprises on the rate outlook.
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