Dollar rose but below previous highs ahead of June’s US employment data
The dollar rose on Tuesday morning in Asia but placed below a two-month high as investors await the U.S. employment data that will dictate whether the U.S. Federal Reserve will withdraw its stimulus measures.
The U.S. Dollar Index climbed 0.08% to 91.948.
The USD/JPY pair fell 0.05% to 110.56.
The AUD/USD pair was down 0.19% to 0.7553 while the NZD/USD pair inched up 0.08% to 0.7029.
The USD/CNY pair inched up 0.08% to 6.4604 while the GBP/USD pair inched down 0.12% to 1.3866.
Despite the rise, the dollar is still below its previous high of 92.408 seen on June 18 when the Fed decided an unexpectedly hawkish tone in its policy decision.
Fed Chairman Jerome Powell said the next policy will encourage a broad and inclusive job market recovery and will not be based only on inflation fears.
The U.S. job report for June, including non-farm payrolls is due on Friday.