Shutterstock photo
Markets

Dollar edges higher with Ukraine, U.S. inflation in focus

Shutterstock photo

Shutterstock photo

Investing.com -

Investing.com - The dollar edged higher against the other major currencies on Tuesday as hopes that tensions in Ukraine will ease supported market sentiment and investors awaited a U.S. inflation report later in the day.

The dollar was little changed against the yen and the Swiss franc, with USD/JPY at 102.59 and USD/CHF at 0.9069.

Investor sentiment was buoyed by hopes that talks between Russia and Ukraine would result in a breakthrough to ease geopolitical tensions in the region.

The euro slid lower, with EUR/USD losing 0.10% to trade at 1.3350, not far from the nine month low of 1.3332 struck on August 8.

The dollar remained supported after a report on Monday showed that U.S. home builder sentiment rose unexpectedly in August, pointing to underlying strength in the housing market.

Investors were looking ahead to U.S. inflation data later in the day for further indications on the possible future path of monetary policy.

The euro remained under pressure after poor economic growth data last week added to pressure on the European Central Bank to implement fresh measures to shore up the faltering recovery in the region.

GBP/USD was down 0.19% to 1.6695 ahead of a U.K. inflation report due out later in the session.

The New Zealand fell to almost two-month lows, with NZD/USD down 0.39% to 0.8442 after weak inflation reports indicated that the Reserve Bank is likely to keep rates on hold following recent rate hikes.

Meanwhile, AUD/USD edged up 0.08% to 0.9331 and USD/CAD was at 1.0896.

The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, inched up 0.09% to 81.70.

Investing.com offers an extensive set of professional tools for the financial markets.

Read more News on Investing.com and download the new Investing.com Stocks & Forex App for Android!

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

ForEx