Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Dollar slips lower vs. yen, euro but remains supported

Published 2015-12-01, 02:35 a/m
© Reuters.  Dollar loses some ground but U.S. rate hike hopes continue to support
EUR/USD
-
USD/JPY
-
DX
-

Investing.com - The dollar slipped lower against the yen and the euro on Tuesday, but it remained broadly supported by growing expectations for a December rate hike by the Federal Reserve and as growth concerns dented sentiment.

USD/JPY slipped 0.15% to trade at 122.92.

Markets were jittery after data on Tuesday showed that China's manufacturing purchasing managers' index ticked down to 49.6 last month from 49.8 in October. Analysts had expected the index to remain unchanged in November.

The disappointing data fuelled fresh concerns over a slowdown in the world's second largest economy.

EUR/USD edged up 0.21% to 1.0588, barely off the previous session's seven-month trough of 1.0556.

Sentiment on the euro remained vulnerable however, as the European Central Bank has been signaling over the past weeks that it is ready to add additional easing measures in order to boost inflation in the euro zone and support growth.

Meanwhile, speculation that the Federal Reserve will raise interest rates at its December meeting continued to lend broad support to the greenback.

Investors were eyeing a string of U.S. economic reports this week for further indications on the strength of the economy, as the Fed has said that any decision on interest rates will depend on data.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.20% at 100.07, still very close to Monday's eight-month peak of 100.35.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.