A man speaks his on his cellphone next to an index board at the reception hall of the Stock Exchange in Athens yesterday.
The dollar fell to a 13-month low on Tuesday against a trade-weighted basket of major currencies, extending recent declines as investors positioned for a Federal Reserve meeting starting later in the day.
There is a growing sense that it will want to tread carefully, and markets were reflecting that. The US dollar nudged higher and Asian equities opened mixed with trading muted ahead of the US Federal Reserve's policy decision. The dollar index was showing one of the lowest performances it has, while its euro counterpart hovers around the two-year high.
Shares in Google parent Alphabet Inc slid almost 3 percent, weighing on the Nasdaq, after the company late on Monday flagged rising costs. Neither did he express any concern at the currency's strength.
S&P hits record; Alphabet weighs on Nasdaq
A drop in Google-parent Alphabet Inc ., after reporting earnings late-Monday, weighed on the technology-centric index. USA stocks are ending mostly lower, led by drops in retailers and industrial stocks.
On Tuesday, the dollar index fell to its lowest since June 2016 at 93.815. "What the Fed says tomorrow is the million dollar question... but the risk is that they sound a bit more cautious after the fourth consecutive downside surprise in inflation". The yen had yielded as two new Bank of Japan policymakers said it would be premature to even talk about ending its massive monetary stimulus. The dollar slid to 110.77 yen from 111.55 yen late Friday in Asia.
At the same time, investigations into Trump's pre-election links to Russian Federation were deepening. Looking ahead, traders will be focusing on the Ifo Business Climate index for July, hoping to gauge the outlook for the eurozone economy.
The Bloomberg Dollar Spot Index hit a 14-month low on Friday as investors assessed an investigation into US President Donald Trump that may stall his economic agenda. US stock futures climbed on strong corporate earnings, and gold headed for the first drop in four days. Greek government borrowing costs hovered near their lowest level since 2010, meanwhile, as the country sold its first longer-dated bond in three years at 4.625 pct. "We need to be on the bicycle, and to keep on pedalling", Europe's economics commissioner, Pierre Moscovici, said. Oil extended gains above US$46 a barrel after Saudi Arabia promised deep cuts to crude exports next month to help ease a global glut. Halliburton Co's executive chairman also said the USA shale drilling boom would probably ease next year. "However, we are expecting more details on the Fed scaling down the size of their balance sheet and that would move the gold price". The benchmark Kospi inched up 1.47 points or 0.06 percent to 2,451.53, a fresh record high, led by telecom and financial stocks as tech stocks succumbed to profit taking. August gold fell 60 cents, or less than 0.1%, at $1,254.30 an ounce.
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