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Forex - Dollar mixed vs. rivals as euro holds modest gains

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Forex Pros - The U.S. dollar was mixed against its major counterparts on Tuesday, while the euro held on to modest gains after the chairman of euro zone finance ministers Jean-Claude Juncker said there was a need to move towards what he called a "soft restructuring" of Greek debt.

During early U.S. trading hours, the greenback was lower against the euro, with EUR/USD rising 0.11% to hit 1.4171.

Earlier in the day, the deputy German finance minister said officials would need one more week to examine details on recalibrating Greece's bailout.

The greenback was also lower against the pound, with GBP/USD easing up 0.07% to hit 1.6198.

Official data released earlier showed that U.K. consumer price inflation jumped to a two-and-a-half year high of 4.5% last month.

Meanwhile, the greenback was higher against the yen and the Swiss franc with USD/JPY jumping 0.78% to hit 81.42 and USD/CHF easing up 0.12% to hit 0.8854.

The yen weakened broadly amid speculation that two major Japanese firms, Takeda and Toshiba, were set to buy companies overseas, requiring them to buy large quantities of foreign currencies.

Elsewhere, the greenback was lower against its Canadian, Australian and New Zealand counterparts, with USD/CAD slipping 0.08% to hit 0.9751, AUD/USD rising 0.25% to hit 1.0581 and NZD/USD up 0.18% to hit 0.7809.

In the minutes of its May 3 policy meeting published earlier, the Reserve Bank of Australia said that higher interest rates may be required to contain rising consumer prices.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.09%.

Earlier Tuesday, U.S. government data showed that construction of homes and apartments declined unexpectedly in April while the number of building permits issued fell more-than-expected.

A separate report showed that industrial production in the U.S. was unexpectedly flat last month.

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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.

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