Dollar gains as traders pare bets on a bold U.S. rate cut
Wednesday, 26 June 2019 23:17 WIB | CURRENCIES |DOLLAR Indeks Dolar

The dollar rose on Wednesday as traders scaled back expectations of an aggressive interest rate decrease next month after comments from Federal Reserve officials that such a move may not be warranted at this time.

The greenback and the euro strengthened against the yen after U.S. Treasury Secretary Steven Mnuchin was quoted by CNBC as saying the trade deal between the United States and China is œabout 90% complete. Mnuchin's comments were later restated to show he was using the past tense to describe progress in the U.S.-China talks.

At 10:41 a.m. (14:41 GMT), the dollar was up 0.45% at 107.660 yen, while the euro was 0.38% higher at 122.34 yen. The greenback was little changed against the euro at $1.1364.

The dollar index edged up 0.06%, pulling further away from a three-month low in the wake of comments from two Federal Reserve officials, which cooled expectations the central bank would lower key lending rates by an aggressive half a percentage point at its next policy meeting on July 30-31.

Source : Reuters

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