Dollar Rises amid Low Hopes of Early Federal Reserve Interest Rate Cut

Tokyo, The US dollar hovered near a 4-1/2-month peak against major peers on Tuesday as traders rushed to push back bets for the Federal Reserve’s first interest rate cut this year.

The dollar index, which measures the currency against six peers, edged 0.05% higher to 105.05.

The euro slipped 0.08% to $1.07335. Sterling was 0.04% lower at $1.25455.

The Japanese yen firmed slightly on Tuesday to 151.75 per dollar, after earlier dipping to 151.79.

The yuan fell to a low of 7.2349 per dollar on the day.

The Australian dollar was flat at $0.6490. New Zealands kiwi dollar eased 0.1% to $0.5947.

Source: Qatar News Agency