TOKYO : The dollar hovered close to a two-week high versus the euro on Wednesday, while the yen consolidated near the middle of its range this month as traders awaited crucial policy decisions from the nations' central banks this week. The Australian dollar slid after benign inflation data suggested the Reserve
The U.S. dollar index - which measures the currency against six major peers, but is heavily weighted toward the euro - edged 0.06 per cent higher to 101.37 in the Asian morning, after pushing as high as 101.65 overnight for the first time since July 11.
In the latest data, U.S. consumer confidence increased to a two-year high in July amid a persistently tight labor market and receding inflation. "Given the deceleration in underlying inflation, we think the risk is Powell cools on another hike by describing the FOMC as 'data dependent,'" which would pressure the dollar, said Joseph Capurso, a strategist at Commonwealth Bank of Australia.
The dollar added 0.12 per cent to 141.15 yen on Wednesday, following a rebound from a multi-week low of 137.245 mid-month.
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