Dollar at 10-month lows as euro touches $1.15

  • Forex News
Dollar at 10-month lows as euro touches $1.15
Credit: © Reuters. - The dollar Tuesday struggled near 10-month lows as the euro touched the $1.15 mark for the first time in over a year.
The dollar index was off 0.34% at 94.60 at 02:45 ET after a low of 94.50.
The dollar was under pressure as doubts about the pace of U.S. tightening increased.
The market odds of a December Fed hike have fallen to below 40%.
There are also doubts on whether the Republicans can push through their healthcare bill in Congress.
That could derail the rest of the Trump administration's economic agenda, including tax cuts.
The euro was up 0.34% at $1.1517 after a high of $1.1538.
The ECB is widely expected to keep monetary policy on hold after its two-day meeting ending Thursday.
The ( pound ) touched the $1.31 mark as investors await U.K. inflation for June.
A further rise in the CPI beyond the current annual rate of 2.9% could encourage hawkish BoE policy members to push for a rate hike.
The dollar eased against the yen to the low 112 mark.
The kiwi fell against the dollar after weaker-than-expected CPI data.
The Aussie jumped over 1%, supported by Chinese economic growth and rate hike speculation.

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