Channel NewsAsia
AsiaPac · 2 hrs ago
Dollar near two-month trough as US inflation data awaited
HONG KONG, Aug 10 : The U.S. dollar hovered near a two-month low against major currencies on Monday as investors awaited this week's inflation data for clues on the Federal Reserve's rate path.The euro edged higher to $1.1558, hovering near its strongest level since mid-June, while sterling was steady at $1.3490, near a five-week peak.The yen held firm at 157.90 per dollar, having given back some intervention-driven gains but remaining well off the roughly 164 multi-decade low hit late last month.The dollar index, which tracks the currency against six major peers, was little changed at 99.6, hovering near its lowest level since June 2. Data on Friday showed the U.S. economy unexpectedly shed jobs in July and job gains for the prior two months were revised sharply lower, cooling expectation
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