Dollar dips ahead of key US data, bitcoin soars

The dollar softened against a basket of currencies on Tuesday, mirroring a dip in Treasuries yields as investors awaited key U.S. economic data before the Federal Reserve's monetary policy meeting next week.

The dollar index last sat around 105.57, having lost over 0.5% in the previous session as U.S. Treasury yields tumbled.U.S. economic strength might warrant tighter financial conditions, which pushed the benchmark 10-year yield above 5% to its highest since July 2007.on speculation that the United States could soon approve a bitcoin exchange-traded fund.

The PMI data could set the market expectations ahead of the GDP report, said Matt Simpson, senior market analyst at City Index. Traders see the 150 threshold as a possible line-in-the-sand for Japanese authorities to intervene in the currency market.

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ReutersAfrica /  🏆 31. in ZA

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