Dollar rises as investors’ doubts on global economic rebound ease
The dollar rose on Monday morning in Asia, while risk currencies placed above recent lows against the dollar and the yen as investors’ concerns on a slow global economic rebound eased for now.
The U.S. Dollar Index that measures the greenback against other major counterparts tallied a 0.03% increase to 92.148.
The USD/JPY pair rose 0.01% to 110.16. Japan’s core machinery orders gained a better-than-expected 7.8% month-on-month and 12.2% year-on-year in May. The country’s producer price index (PPI) increased 5% year-on-year and 0.6% month-on-month in June.
The AUD/USD pair tallied a 0.12% crash to 0.7476 and across the Tasman Sea.
The NZD/USD pair shed 0.23% to 0.6979. New Zealand’s electronic card retail sales rose 4% year-on-year and 0.9% month-on-month.
The USD/CNY pair was down 0.07% to 6.4741, while the GBP/USD pair rose 0.03% to 1.3904.
Investors now focus on U.S. inflation and tightening of the Federal Reseve’s monetary policy. The U.S. core consumer price index (CPI) for June is set to be released tomorrow.