Dollar Gains Ahead of Fed; Euro Among Laggards
A dollar gauge rose for a fourth day ahead of the Federal Reserve interest-rate decision, with the central bank widely expected to keep rates unchanged on Wednesday. The euro was among the worst performers in the Group of 10 against the greenback Tuesday.
The Bloomberg Dollar Spot Index advanced 0.2%.
Fed Chair Jerome Powell is under pressure from President Donald Trump to cut rates and may face multiple dissents this week from officials who want to provide support to a slowing labor market.
US job openings fell in June after jumping in each of the prior two months, while US consumer confidence increased in July after declining last month.
A rally in US Treasuries accelerated after an auction of seven-year notes drew strong demand.
EUR/USD fell 0.3% to 1.1551, after hitting 1.1519, the lowest since June 23; it fell 1.3% in the previous session.
The common currency extended its slide for a fourth session amid concern over the economic impact of the EU’s recent trade deal with the US.
USD/JPY wavered between gains and losses at around 148.50.
The BOJ is set to meet on Thursday and Japan’s ruling party will likely debate the fate of beleaguered Prime Minister Shigeru Ishiba at a gathering in the next few days.
Source : Bloomberg
