Investing.com - The dollar was mostly higher against the other
major currencies on Tuesday, as concerns over tension in Ukraine
and ongoing violence in the Gaza Strip continued to support safe
EUR/USD shed 0.27% to 1.3487, as tensions between Russia
and the West remained high in the wake of the downing of a
Malaysian airliner in eastern Ukraine late last week, while
Israel's ground offensive in Gaza was also in focus.
Markets turned their attention to a meeting of euro zone foreign
ministers later on Tuesday to discuss further sanctions against
Separately, hopes for a ceasefire in Gaza mounted after U.S.
Secretary of State John Kerry and United Nations chief Ban Ki Moon
arrived in Cairo for talks aimed at stopping the violence.
The euro also remained under pressure after recent comments by
European Central Bank President Mario Draghi were seen as the
latest sign that the bank is open to further monetary easing
measures to stave off the risk of deflation in the euro area.
In contrast, Federal Reserve Chair Janet Yellen indicated last
week that interest rates may rise sooner if the economy continues
The pound was steady against the dollar, with GBP/USD down
0.06% to 1.7065.
Official data showed that U.K. public sector net borrowing rose
by £9.5 billion in June, after an increase of £11.9 billion in May,
whose figure was revised from a previously estimated £11.5
Analysts had expected public sector net borrowing to rise by
£10.3 billion last month.
The dollar was higher against the yen and the Swiss franc, with
USD/JPY edging up 0.09% to 101.48 and with USD/CHF rising
0.35% to 0.9011.
Official data earlier showed that Switzerland's trade surplus
narrowed to 1.38 billion Swiss francs last month, from 2.85 billion
Swiss francs in May, whose figure was revised up from a previously
estimated surplus of 2.77 billion Swiss francs.
Analysts had expected the trade surplus to expand to 2.97
billion Swiss francs in June.
The dollar was mixed against its Australian, New Zealand and
Canadian counterparts, with AUD/USD adding 0.15% to 0.9388 and
NZD/USD down 0.22% to 0.8671, while USD/CAD inched up
0.06% to 1.0744.
Speaking at a conference in Sydney, Reserve Bank of Australia
Governor Stevens earlier said he is content with the current
monetary policy setting and stands ready to do more if needed.
The Aussie had come under broad selling pressure earlier in the
month, when Mr. Stevens warned investors that they were
underestimating the risk of a significant fall in the currency.
The US Dollar Index, which tracks the performance of the
greenback versus a basket of six other major currencies, edged up
0.19% to 80.77.
Later in the day, the U.S. was to release reports on consumer
price inflation and existing home sales.
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