The dollar edged up against a basket of key rivals on Tuesday, while the Canadia...
TOKYO - The dollar edged up against a basket of key rivals on Tuesday, while the Canadian dollar was supported by rising crude oil prices due to U.S. plans to tighten a clampdown on Iranian oil exports from next month.
The dollar index against a basket of six key rivals was a shade higher at 97.336, edging towards the 2019 high of 97.71 struck in early March. While those may provide some pointers to the state of the U.S. economy, a clearer picture should emerge from the gross domestic product report set for release on Friday.
Against the yen, the dollar gave up a tenth of a percent to 111.80 yen, moving off a high for this year of 112.17 hit last Wednesday, while holding above its 200-day moving average. “The relative dovish tone of the central banks is supporting risk assets,” he said. “That’s why dollar/yen has been supported by risk on trading. I think this kind of move will continue as long as major central banks make no move for a while.”
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