Dollar Gains Before Manufacturing Data, Euro Crumbles on German Inflation
Tuesday, 1 October 2019 08:13 WIB | CURRENCIES | Indeks Dolar Yen EuroDolar ASDolar Australia,

The U.S. dollar traded near its highest in almost two weeks versus the yen before the release of data that is forecast to show the U.S. manufacturing sector returned to growth, which would ease concern about the impact of the ongoing Sino-U.S. trade war.

The euro teetered near its lowest in more than two years versus the greenback as weak economic data from Germany reinforced expectations that monetary policy in the euro zone will remain accommodative for an extended period.

The Australian dollar edged lower before an expected interest rate cut from the Reserve Bank of Australia (RBA) later on Tuesday.

The dollar traded at 107.85 yen early in Asia, close to its strongest level in almost two weeks.

The yen remained weak after the Bank of Japan's tankan showed business confidence in the third quarter slid to its lowest in six years.

The dollar index (DXY) against a basket of six major currencies rose 0.03% to 99.402, approaching the highest in more than two years.

The euro stood at $1.0900 in Asia, nursing a 0.4% decline in the previous session when it slid to $1.0885, which is the lowest since May 12, 2017.

The Australian dollar fetched $0.6751 , down 0.02% in early trade.

Source : Reuters

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