Greenback hits one-month minimum against yen
On Tuesday, the evergreen buck hit one-month minimum against the Japanese yen, staying on the defensive after recent American economic data were seen likely to restrict the prospects of a near-term Fed interest rate lift.
The dollar tumbled 0.8% to 100.43 yen and hit a minimum of 100.355 yen at one point, the dollar’s lowest reading against the yen in more than a month.
It feels like there’s a broad acceleration in greenback-selling momentum.
Against a basket of six key currencies, the major American currency sagged 0.2%, hitting 95.417.
As for the common currency, it rose 0.1%, getting to $1.1195. Against the Japanese yen, the euro slumped 0.7% to 112.45 yen.
The greenback has rebounded against the Japanese yen and the common currency after weaker-than-expected July retail sales were observed likely to delay a Fed rate lift.
The markets will wait for American data later in the day including housing starts, consumer prices as well as industrial output for another chance to estimate the health of the economy.