SINGAPORE : The dollar weakened on Tuesday after Federal Reserve officials signalled that the central bank was nearing the end of its tightening cycle, though it traded in a tight range ahead of a key U.S. inflation report.Several Fed officials said on Monday the central bank will likely need to raise int
SINGAPORE : The dollar weakened on Tuesday after Federal Reserve officials signalled that the central bank was nearing the end of its tightening cycle, though it traded in a tight range ahead of a key U.S. inflation report.
U.S. interest rate expectations have been a key driver of the dollar since the Fed began its tightening cycle last year. Markets are now focusing their attention on U.S. inflation data out on Wednesday, which will provide more clarity on the progress the Fed has made in its fight against stubbornly high consumer prices.
The Japanese yen rose to a near one-month high of 141.15 per dollar on Tuesday and last bought 141.43 per dollar, drawing support from a slump in U.S. Treasury yields.
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