Dollar steadies as traders look to cenbanks for guidance
A U.S. dollar banknote is seen in this illustration taken May 26, 2020. REUTERS/Dado Ruvic
SINGAPORE, Oct 26 (Reuters) – The dollar has bounced off recent lows and was firm in choppy trade on Tuesday ahead of a handful of data releases and central bank meetings which investors expect to guide the rates outlook.
The euro fell 0.3% overnight on softer-than-forecast German business morale and expectations that the European Central Bank (ECB) will stay dovish when it meets on Thursday.
The euro last bought $1.1598, near a one-week low.
Other overnight moves were modest, with the dollar easing a tad on the Aussie, kiwi and sterling. It was steady on Tuesday save for a small rise on Japan’s yen to 113.83 yen, and a slight dip on the Aussie.
The U.S. dollar index rose held at 93.856.
“The dollar looks to be finding its feet in the mid-93s,” analysts at Westpac said in a note, as focus turns to the ECB’s meeting as well as U.S. growth data due…
