• The dollar held steady at near 8-week highs versus the yen on Tuesday, with investors awaiting the Federal Reserve’s policy statement this week for fresh hints on the possible pace and timing of further U.S. monetary tightening.
The dollar last changed hands at 111.52 yen, trading within sight of Monday’s peak of 111.665 yen, its highest level since July 27.
The greenback has benefited from a recent surge in U.S. bond yields. The U.S. 10-year Treasury yield had reached a one-month high of 2.237 percent on Monday.
The euro edged up 0.1 percent to $1.1968, on track for its fourth straight days of gains, albeit modest ones.
• A vast majority of Japanese firms are upbeat about the outlook for the U.S. economy, a Reuters poll found, a reassuring sign after some market concern earlier this year that the pace of U.S. growth could be slowing.
Most also had a generally positive outlook for China’s economy even if the number of companies somewhat pessimistic about prospects was higher than for the U.S. economy.
• Bank of England Governor Mark Carney said on Monday that Brexit is likely to hurt Britain’s growth prospects in the short term and push up inflation as the country adjusts to life outside the European Union.
• Iraq’s oil minister, Jabar al-Luaibi, said on Tuesday that it was premature now to decide on what OPEC and other producers should do beyond March2018, when the current supply-cut pact expires.
He said some oil producers think the pact should be extended for few months beyond March, others want an extension until the end of 2018, while some, including Iraq, think there should be another round of cuts in supply.
• Oil markets held largely steady on Tuesday, even as OPEC producers Saudi Arabia and Iraq pointed to a reduction in supplies in line with efforts to tighten the market and prop up prices.
Brent crude futures LCOc1, the international benchmark for oil prices, were at $55.50 per barrel at 0653 GMT, up 2 cents from their last close.
U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $50.01 per barrel, up 10 cents, or 0.2 percent, from their last settlement.
Reference: Reuters
Thai
Eng