Dollar Rises After Comments by Fed Chair on September Rate Cut

The dollar crept off five-week lows on Tuesday, as investors weighed the case for a September rate cut after comments by Fed Chair Jerome Powell. The dollar index , which measures the US unit against six peers, was at 104.3. The euro was at USD 1.0893, just shy of a four-month high touched on Monday, having erased all of the losses of the past few weeks. The yen was last down 0.4 percent at 158.64 to the dollar and was weaker across other crosses. Sterling was little changed at USD 1.29625. The Australian dollar was 0.27 percent lower at USD 0.6741. The New Zealand dollar eased 0.17 percent to USD 0.6064, hitting a two-week low ahead of inflation data due on Wednesday. Source: Qatar News Agency