The dollar eased from near seven-week highs against major currencies on Tuesday after investors assessed the outlook for U.S. rate cuts, even as the conflict in the Middle East continues to support the currency's safe-haven appeal.
The euro
EURUSD
inched 0.1% higher to $1.098575, not far from the seven-week low of $1.09515 hit last week. The pound
GBPUSD
edged 0.1% higher to $1.31005, after hitting a three-week low of $1.30595 on Monday.
Traders have drastically shifted their expectations of monetary easing from the U.S. Federal Reserve this year. A strong jobs report last week gave credence to Fed Chair Jerome Powell's comments that the central bank would stick to its usual quarter-percentage-point rate reductions after it began its easing cycle with a big cut in September.
The euro
EURUSD
inched 0.1% higher to $1.098575, not far from the seven-week low of $1.09515 hit last week. The pound
GBPUSD
edged 0.1% higher to $1.31005, after hitting a three-week low of $1.30595 on Monday.
Traders have drastically shifted their expectations of monetary easing from the U.S. Federal Reserve this year. A strong jobs report last week gave credence to Fed Chair Jerome Powell's comments that the central bank would stick to its usual quarter-percentage-point rate reductions after it began its easing cycle with a big cut in September.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.