The dollar edged lower on Tuesday in thin summer trading with market participants in wait-and-see mode ahead of key inflation figures that could shed more light on how aggressive the Federal Reserve might be in its expected interest rate hike in September.
Hungary's forint dropped 0.8% against the
euro and Budapest-listed stocks tumbled 2.3% on Tuesday hit by
oil supply worries, while most other emerging market currencies
made muted moves against ...
* This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine. The rouble firmed towards 60 against the U.S. dollar on Tuesday, retaining support from capital controls and high prices for oil, Russia's key export, while stocks inched higher as the admission of investors from designated "friendly countries" was delayed.
The Canadian dollar edged lower
against its U.S. counterpart on Tuesday as investor caution
ahead of a key U.S. inflation report this week offset higher oil
prices.
Equity markets globally ...
The dollar turned defensive against other major currencies on Tuesday, with traders reluctant to push the greenback higher without further signs that another aggressive interest rate hikes from the Federal Reserve was coming in September.
* Euro STOXX 600 down 0.6% * Dollar hangs just off recent highs. * U.S. CPI data due on Wednesday. * Oil turns positive. By Tom Wilson. Shares slipped and the dollar hung off recent highs on Tuesday as investors eyed U.S. inflation data due a day later that will likely yield clues to any further aggressive Federal Reserve rate hikes.
Sterling strengthened against a slightly weaker dollar on Tuesday, with the outlook for UK interest rates in focus after a Bank of England official flagged a further increase. BoE Deputy Governor Dave Ramsden told Reuters the bank will probably have to raise interest rates further from their current 14-year-high to tackle inflation pressures that are gaining a foothold in Britain's economy.
The dollar lurked below recent highs on Tuesday as traders awaited this week's key U.S. inflation print for any signs that price pressures are finally abating and that the need for further aggressive U.S. interest rate hikes is easing.
* Euro STOXX 600 down 0.3% * Dollar hangs just off recent highs. * U.S. CPI data due on Wednesday. By Tom Wilson and Julie Zhu. Shares edged lower and the dollar hung off recent highs on Tuesday as investors eyed U.S. inflation data due a day later that will likely yield clues to any further aggressive Federal Reserve rate hikes.
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