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The dollar index was flat after data showed U.S. retail sales increased more than expected in July, while the yuan sank to a nine-month trough on Tuesday after China’s central bank unexpectedly cut key policy rates.
The dollar was on the defensive on Monday after a mixed U.S. jobs report provided little directional conviction and as market focus turned to inflation data from the world’s two largest economies due this week.
Reuters: The South African rand tumbled over 1% on Tuesday, extending Monday’s losses as global risk-off sentiment increased. At 0905 GMT, the rand traded at 18.0325 against the dollar, about 0.85% weaker than its previous close. SOUTH AFRICAN RAND TUMBLED It had weakened to as much as 18.0884 earlier in the day. The dollar last […]
Reuters: The dollar strengthened on Monday after a survey from the Federal Reserve showed U.S. banks reported tighter credit standards and weaker loan demand during the second quarter, a sign rising interest rates are having an impact on the economy. U.S. DOLLAR STRENGTHENED The Fed’s quarterly Senior Loan Officer Opinion Survey, or SLOOS, which is […]