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HomeLatestU.S. dollar ticks up as Fed assembly begins

U.S. dollar ticks up as Fed assembly begins

NEW YORK, July 25 (Xinhua) — The U.S. dollar was nearly flat on Tuesday because the Federal Open Market Committee assembly started.

The dollar index, which measures the dollar in opposition to six main friends, rose 0.06 % to 101.4045 in late buying and selling.

The U.S. home worth index continued to rise to 404.1 in May, in keeping with figures launched by the Federal Housing Finance Agency (FHFA) on Tuesday. Monthly home costs elevated by 0.7 % from the earlier month.

“U.S. house prices increased moderately in May, continuing the trend of the last few months,” mentioned Nataliya Polkovnichenko, supervisory economist in FHFA’s Division of Research and Statistics. “However, house prices in some regions of the country remained below the levels seen one year ago.”

Meanwhile, the Conference Board reported on Tuesday that its shopper confidence index rose to 117 in July from 110.1 in June, which beat economists’ expectation and reached the very best stage since July 2021.

Since the one-year shopper inflation expectations fell from 6.0 % to five.7 %, the U.S. dollar index didn’t present a major response to the robust shopper confidence information upon its launch.

The consideration now shifts in direction of the Fed announcement on Wednesday. Fed policymakers are anticipated to boost the benchmark rates of interest once more Wednesday to the very best stage in 22 years.

In late New York buying and selling, the euro was all the way down to 1.1045 U.S. {dollars} from 1.1071 {dollars} within the earlier session, and the British pound rose to 1.2892 U.S. {dollars} from 1.2824 {dollars}.

The U.S. dollar purchased 141.0230 Japanese yen, decrease than 141.4370 Japanese yen of the earlier session. The U.S. dollar decreased to 0.8646 Swiss francs from 0.8681 Swiss francs, and it was as much as 1.3167 Canadian {dollars} from 1.3166 Canadian {dollars}. The U.S. dollar was all the way down to 10.3802 Swedish krona from 10.4154 Swedish krona.