Dollar rally loses steam as traders wait on Fed, data

Published by
Reuters UK

By Tom Westbrook SINGAPORE (Reuters) – The dollar was parked below recent peaks on Tuesday, as a three-week rally faded and traders waited on economic data to figure on whether it’s warranted to push the dollar up any further. Strong U.S. labour data and sticky inflation have raised U.S. rate expectations and supported the dollar’s rally so far this month – Tuesday’s European and U.S. manufacturing data and Friday’s core PCE price index will guide the next steps. After a quiet Monday thanks to the President’s Day holiday in the United States, the dollar stood steady at 132.24 yen and $1.0687 p…

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