Dollar falls to more than 3-week low with payrolls in focus
The dollar fell to its lowest level in more than three-weeks against a basket of currencies on Tuesday, as investors looked to U.S. jobs figures later this week for insight into the possible path of U.S. Federal Reserve monetary policy.
The greenback has struggled since Federal Reserve Chair Jerome Powell’s said at the Jackson Hole conference on Friday that tapering could begin this year, but the central bank was in no hurry to raise interest rates.
The dollar index fell 0.065%, with the euro up 0.12% to $1.1809.
The dollar hit a low of 92.395 on the day, its lowest level since Aug. 6 but is still up more than 0.6% for the month.
Data earlier in the day showed euro zone inflation surged to a 10-year-high this month, with consumer prices in the 19 countries sharing the euro up by 3%.
TREASURIES-Yields rise, curve steepens in choppy market
The benchmark 10-year yield, which rose as high as 1.314%, was last up 2.5 basis points at 1.3088%.
Sterling strengthened to a two-week high of $1.3807, and was last trading at $1.3753, down 0.04% on the day.
The Japanese yen weakened 0.04% versus the greenback at 109.96 per dollar.
In crytocurrencies, bitcoin last rose 0.49% to $47,235.84 while ethereum last rose 4.95% to $3,386.14.
Ether rose to as much as $3,475, its highest level since May 18.
The cryptocurrency is up more than 30% for August, on pace for its biggest monthly percentage gain since April.
Reference: Reuters
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