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Forex - Dollar little changed vs. rivals ahead of U.S. reports

Published 08/26/2014, 06:19 AM
Updated 08/26/2014, 06:19 AM
Dollar holds steady vs. major counterparts, U.S. data ahead

Investing.com - The dollar was little changed against the other major currencies on Tuesday, as investors awaited the release of U.S. data later in the day and continued to monitor developments in Ukraine.

The dollar remained supported after Federal Reserve Chair Janet Yellen said at Jackson Hole on Friday that the U.S. economy is recovering and added the labor market is improving as well.

EUR/USD was steady at 1.3200.

Investors remained cautious as Russian President Vladimir Putin was set to meet his Ukrainian counterpart, Petro Poroshenko, later Tuesday amid growing tensions in the region.

On Monday, Ukraine said an armored column including 10 tanks entered from Russia as the government in Moscow unveiled plans to send a second convoy with humanitarian aid.

The pound held steady, near five-month lows with GBP/USD at 1.6579.

Industry data showed that U.K. mortgage approvals rose by 42,800 last month, less than the expected increase of 44,200, after a revised 43,200 rise in June.

The dollar was lower against the yen, with USD/JPY down 0.18% to 103.86, and little changed against the Swiss franc, with USD/CHF at 0.9149.

Meanwhile, AUD/USD edged up 0.12% to 0.9309 and NZD/USD slipped 0.10% to 0.8334, while USD/CAD fell 0.10% to 1.0973.

Official data earlier showed that New Zealand's trade balance swung into a deficit of NZ$692 million in July, from a surplus of NZ$247 million the previous month. Analysts had expected the trade balance to swing into a deficit of NZ$475 million last month.

The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was steady at 82.54, close to Monday's 11-month high of 82.69.

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Later in the day, the U.S. was to publish reports on July durable goods orders, as well as house price inflation and consumer confidence.

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