Dollar Tenses for Data Verdict on Rate Cut Risks

August 13, 2024, 12.31 PM
Source: ReutersEditor: Wahyu T.Rahmawati

FOREX - SYDNEY. The dollar was in limbo on Tuesday as investors waited to see how U.S. economic data affected the chance of outsized rate cuts, while a rally in Japanese stocks helped staunch the bleeding in yen carry trades.

The greenback rose 0.33% to 147.72 yen, having briefly touched a one-week high of 148.23 overnight before profit-taking emerged.

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