Dollar slips as traders weigh Middle East risks, US rate cuts
Updates prices at 0510 GMT
By Rae Wee
SINGAPORE, Aug 27 (Reuters) -The dollar and yen eased on Tuesday, paring some of their safe-haven gains from the start of the week in the wake of a major missile exchange between Israel and Hezbollah that stoked fears of a wider escalation.
Imminent U.S. rate cuts also remained at the top of investors' minds and further pressured the greenback, though currencies were mostly rangebound on the lack of major news in the Asian session.
The yen JPY=EBS was last 0.1% lower at 144.65 per dollar, having risen to a three-week high of 143.45 in the previous session on a flight to safety.
The euro EUR=EBS and sterling GBP=D3 rose about 0.1% each to $1.1172 and $1.3201 respectively, hovering near their recent multi-month highs.
The Canadian dollar CAD=D3 strengthened slightly to 1.34875 per U.S. dollar, having touched a five-month peak on Monday as oil prices surged.
"The market is sort of taking a breather and waiting to see key data releases," said Rodrigo Catril, senior FX strategist at National Australia Bank.
"Given also that we have kind of second-tier data releases this week, it plays to the view of a sort of more range-y environment over the near term."
Most currencies were holding near milestone highs and the dollar near its lowest level in more than a year, helped by the likelihood of a U.S. rate cut in September after Federal Reserve Chair Jerome Powell more or less nodded to such a move in his Jackson Hole speech on Friday.
San Francisco Fed President Mary Daly also said on Monday a quarter-percentage point reduction in borrowing costs next month was likely.
Against a basket of currencies, the greenback =USD dipped 0.03% to 100.82, languishing near a 13-month low of 100.53 hit in the previous session.
The Fed's aggressive rate-hike cycle and expectations of how much further U.S. rates could rise had been a huge driver of the dollar's strength over the past two years, keeping other currencies, particularly the Japanese yen, under pressure.
"The question now is no longer whether the Fed is going to cut in September but by how much," said David Chao, Invesco's global market strategist for Asia Pacific ex-Japan.
"Powell left the door open for larger cuts in case labour conditions deteriorate. Investors believe that the Fed appears to be open to cutting rates faster than previously expected."
Markets have already fully priced in a rate cut next month, and see about 100 basis points worth of easing by the end of the year. FEDWATCH
Elsewhere, the Australian dollar AUD=D3 gained 0.23% to $0.6787, not far from a one-month high of $0.67985 hit on Friday.
The New Zealand dollar NZD=D3 rose 0.34% to $0.6225, similarly holding near Friday's high of $0.6236, its strongest level in more than seven months.
World FX rates https://tmsnrt.rs/2RBWI5E
Reporting by Rae Wee; Editing by Shri Navaratnam and Jamie Freed
Aloqador aktivlar
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
