- Most Asian currencies traded mixed on Tuesday as economic data in the U.S. pointed to sluggish growth in the country's services sector, further bolstering the case for a pause in interest rate hikes by the Federal Reserve next week. The Malaysian ringgit and Thailand's baht depreciated as much as 0.5% and 0.7%, respectively.
The Australian dollar jumped to its highest since mid-May on Tuesday after the Reserve Bank of Australia raised interest rates, in a decision that many analysts had said would be a close call between a hike and a pause.
The dollar languished well below last week's 2-1/2-month highs on Tuesday after unexpectedly soft U.S. services data firmed up expectations for a rate pause at the Federal Reserve's meeting next week but clouded the policy outlook for the months ahead.
The dollar languished well below last week's 2-1/2-month highs on Tuesday after unexpectedly soft U.S. services data firmed up expectations for a rate pause at the Federal Reserve's meeting next week but clouded the policy outlook for the months ahead.
* Rate expectations may continue to see huge swings - analyst. * Palladium up 0.7% By Arundhati Sarkar. Gold prices edged lower on Tuesday as investors sought more clarity around the U.S. Federal Reserve's policy outlook, while a softer dollar capped further decline, keeping bullion in a narrow range.
* Loonie dips 0.1% against the U.S. dollar. * Price of U.S. oil settles 0.6% higher. * 2-year yield touches highest since October 2007. By Fergal Smith. The Canadian dollar edged lower against the greenback on Monday, but held on to much of its recent gains as oil prices rose and investors assessed prospects of the Bank of Canada resuming its interest rate hiking campaign this week.
Latin American currencies edged
higher on Monday led by gains in the Brazilian real and Mexican
peso, while oil prices rose and investors scaled back
expectations of a rate hike by the U.S. Federal ...
The dollar index turned
negative on Monday after data showed that the U.S. services
sector barely grew in May as new orders slowed, overturning an
earlier rally that was boosted by strong jobs growth ...
The South African rand gained more than 1% against the dollar on Monday, despite an economic survey that showed business activity was at an almost two-year low. At 1600 GMT, the rand traded at 19.2900 against the dollar, up about 1.15% from its closing level on Friday. The dollar was last trading around 0.19% weaker - at 103.950 - against a basket of global currencies.
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