Dollar ends marginally lower despite rising yields while yen fell to a fresh 24-year low
|The greenback initially retreated in New York morning on rise in US stocks but only to stage a recovery and ended marginally lower against its peers except versus jpy on Tuesday despite rising U.S. Treasury yields. Yen continued its slide and fell to a fresh 24-year low against dollar on BOJ'S ultra-loose monetary policy.
Versus the Japanese yen, dollar traded with a firm bias in Asia and jumped in European trading on cross-selling in jpy and rose to 136.33 at New York open before ratcheting higher to a fresh 24-year high at 136.70 near the close.
The single currency gained to 1.0542 in Asian morning before retreating to 1.0514 ahead of European open. The pair then found renewed buying there and rose to an intra-day high at 1.0582 in European morning on usd's weakness together with cross-buying in euro especially vs sterling before retreating to 1.0520 on profit-taking.
The British pound traded sideways in Asia before jumping from 1.2246 at European open to session highs at 1.2324. However, price pared its gains and retreated sharply to 1.2252 ahead of New York open before edging lower to 1.2249 on cross-selling in sterling due to market woes on UK's biggest rali strike in 30 years.
Data to be released on Wednesday:
New Zealand Westpac consumer survey, imports, exports, trade balance, Australia Westpac leading index, U.K. CPI, RPI, PPI input prices, PPI output prices, DCLG house price index, US mortgage application, redbook, Canada CPI and EU consumer confidence.
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