© Reuters. One-dollar banknotes are pictured in this illustrative photo taken on March 10, 2023. Photo: Dado Rovbic
SINGAPORE (Reuters) – The dollar fell on Tuesday but traded in a narrow range, as investors remained cautious ahead of U.S. inflation data due later in the day, coinciding with the start of the Federal Reserve’s monetary policy meeting. over the course of two days.
The Consumer Price Index report issued by the US Labor Department is expected to show that inflation eased slightly in May, leaving an outlet for the US central bank to stop raising interest rates during this meeting.
The outlook boosted risk appetite, keeping the dollar near multi-week lows against the risk-sensitive Australian and New Zealand dollars.
The Australian dollar last traded at $0.6753, after hitting a one-month high of $0.6774 in the previous session.
The New Zealand dollar settled at $0.6123, staying close to Monday’s peak at $0.6153, the highest since May 24.
The pound rose 0.07% to $1.2520, after climbing to a one-month high of $1.2600 on Monday on hawkish comments by Bank of England policymakers.
It increased 0.04% to $1.0760, with traders also focusing on the European Central Bank’s rate decision on Thursday.
It rose slightly to 103.59, after falling to 103.24 yesterday, the lowest level since May 23.
(Prepared by Marwa Gharib for the Arabic Bulletin)
2023-06-13 03:30:00
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