The
dollar traded at almost a four-month high as demand slowed with traders
reluctant to buy the currency before the Aug. 7 employment report.
The
greenback fluctuated as July jobs data may help guide Federal Reserve
policy makers as they determine whether the economy is expanding fast
enough to merit the first interest-rate increase in almost a decade. Fed
Bank of Atlanta President Dennis Lockhart said in an interview with the
Wall Street Journal that the central bank is close to a September rate
increase.
The
Bloomberg Dollar Spot Index was little changed at 1,212.48 at 1:48 p.m.
in New York, after closing Monday at the strongest level since March
17. The greenback added 0.2 percent to $1.0925 per euro and 0.1 percent
to 124.16 yen.
The
dollar dropped as much as 2 percent against its Australian counterpart
as that nation’s central bank held interest rates unchanged and omitted
any reference to further currency declines being necessary.
Source: Bloomberg
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