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US Dollar droops as key US data looms; yen firms on CPI beat

From channelnewsasia.com

The dollar traded on the back foot on Tuesday, as markets looked ahead to a week of key U.S. economic data that will provide fresh signals on how soon the Federal Reserve may begin cutting interest rates. The yen firmed slightly after figures showed consumer inflation stayed at the Bank of Japan's 2 per cent target, rather than dipping below it for the first time in nearly two years, as economists had forecast. The U.S. dollar index, which measures the currency against a basket of peers including the yen and euro, traded flat at 103.78 early in Asian time, following a 0.17 per cent slide on Monday. Markets have all ... (full story)

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  • Category: Fundamental Analysis