Dollar slips from three-month highs; euro gains after PMIs
The U.S. dollar slipped slightly lower Thursday, but remained close to three-month highs underpinned by expectations for a slower pace of interest rate cuts by the Federal Reserve ahead of the upcoming US presidential election.
At 04:05 ET (08:05 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.2% lower to 104.095, not far removed from levels last seen at the end of July.
In Europe, EUR/USD edged 0.2% higher to 1.0797, with traders digesting the latest economic activity data from the eurozone region.
GBP/USD rose 0.3% to 1.2961, bouncing after the pair dipped to a more than five-week low of in the previous session, ahead of the release of the October UK PMI data.
USD/JPY fell 0.4% to 152.19, slipping back slightly after climbing to a near three-month high in the prior session.
The yen saw some support after Japanese government officials warned against “one-sided” moves in currency markets, in light of recent weakness in the yen. Their comments spurred some fears of currency market intervention.
Source: Investing.com