· The dollar eased marginally against its peers on Tuesday, as the euro steadied after partners in Germany’s coalition settled a row over migration that had threatened to topple Chancellor Angela Merkel’s government.
The euro was little changed at $1.1630 after shedding 0.45 percent overnight.
The dollar index against a basket of six major currencies inched down 0.1 percent to 94.913 after gaining about 0.45 percent the previous day.
The yuan earlier fell to 6.7204 per dollar, its weakest since August 2017, before recovering to 6.7035 in what traders described as efforts by state-owned banks to prop up the currency.
The dollar was a shade lower at 110.850 yen after edging up 0.2 percent the previous day, supported by robust U.S. economic data, higher Treasury yields and a bounce in shares on Wall Street.
· U.S. President Donald Trump warned the World Trade Organization on Monday that “we’ll be doing something” if the United States is not treated properly, just hours after the European Union said that U.S. automotive tariffs would hurt its own vehicle industry and prompt retaliation.
· U.S. President Donald Trump said on Monday he had spoken to Mexican President-elect Andres Manuel Lopez Obrador about border security and believed the new Mexican leader would help the United States with its border issue.
· The Bank of Japan is likely to cut its price growth forecasts at a policy meeting later this month as long-term inflation expectations stall, sources said, highlighting the bank’s difficulty in hitting its elusive price target.
Three sources with direct knowledge of the bank’s thinking told Reuters that the BOJ was likely to cut its projection for core consumer price growth this fiscal year to around 1.0 percent from the 1.3 percent projected in April, and for next year to around 1.5 percent from 1.8 percent.
· Chinese state media on Tuesday called a recent sell-off in mainland stock markets an “irrational overreaction” and urged investors not to panic over growing trade frictions between Beijing and Washington.
· Iran’s President Hassan Rouhani said regional oil exports may be threatened if the United States tries to pressure clients to stop buying Iranian crude oil, a new agency reported on Tuesday.
· Oil prices rose on Tuesday after Libya declared force majeure on some of its supplies, while an ongoing Canadian outage lifted U.S. crude to levels not seen since late 2014.
U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $74.73 at 0724 GMT, up 79 cents, or 1.1 percent, from their last settlement. They earlier marked their strongest since November 2014 at $74.84 a barrel.
Outside North America, Brent crude oil futures LCOc1 were at $77.77 per barrel, up 44 cents, or 0.6 percent.
Reference: Reuters,CNBC
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