US housing data lifts dollar, yuan slips FMTNews FMTBusiness
The yuan fell 0.3% overnight and was trading at 7.1826 per dollar, close to a seven-month low.
The greenback was marginally stronger at US$1.0916 per euro overnight and steady early in the Asia session. The yen was also firm at 140.50 per dollar ahead of an appearance by Bank of Japan Governor Kazuo Ueda on Wednesday. With China’s Premier Li Qiang abroad in Europe, traders see an imminent announcement of further stimulus as unlikely.
“The Aussie could dip below 0.6700 this week, particularly if Powell is hawkish,” he said. Powell is due to begin his testimony at 1400 GMT. “From here we see further stagnation in growth,” said Mieneke Perniskie, a currency trader at Kiwibank in Wellington.
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