The dollar was mostly firmer in N.Y. trade on Tuesday, despite Treasury yields falling off a cliff, and Wall Street giving back more than it gains on Monday. On the data front, Q2 productivity slightly missed expectations, while unit labor costs were a touch higher than expected. Neither had much impact on the dollar, as focus remained on the surprise China currency devaluation. EUR-USD peaked at 1.1088 early on, before touching 1.1010 lows, and settling in near 1.1025. USD-JPY made two-month highs of 125.20, with yen weakness correlating to China's devaluation.
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