Tuesday, July 25, 2017

US Dollar falls to 13-month lows, Asian stocks sag

Business, finance, forex, US dollar, wall street

The US dollar was down to a 13-month low on Tuesday against a basket of major currencies, extending recent declines as investors positioned for a Federal Reserve meeting starting later in the day.

Undermining the case for a Fed rate increase in coming months, the dollar has been hit by weak U.S. data that has contrasted with an improving economic outlook in Europe and China.

The dollar fell 0.1% to 110.99 yen JPY=D4 on Tuesday, after touching a six-week low of 110.65 yen on Monday.

The dollar index .DXY, which tracks the greenback against a basket of six major peers, pulled back a little to 93.919 on Tuesday. It still remained above Monday's low of 93.823, its lowest level since June 2016.

Japan's Nikkei 225 index slipped by 0.1% to 19,955.20 and Hong Kong's Hang Seng fell 0.1% to 26,825.91. South Korea's Kospi sank 0.5% 2,438.50. Australia's S&P ASX 200 gained 0.7% to 5,726.60 and the Shanghai Composite index slipped 0.3% to 3,420.25. India's Sensex lost 0.1% to Shares in Southeast Asia were mixed.

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