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Dollar steady as traders eye US CPI and Fed expectations

EURUSD was little changed near 1.1540, while USDJPY held around 159.29 ahead of Wednesday’s CPI release.

Reported · Written up by our desk · Major Pairs

U.S. markets closed Tuesday with stocks mostly lower, Treasury yields modestly down across much of the curve, and the U.S. dollar broadly steady versus major currencies, according to Forexlive. Trading sentiment was shaped by fading optimism around potential U.S.-Iran talks and ongoing uncertainty around the Strait of Hormuz.

Attention is shifting to Wednesday’s U.S. CPI report, which traders are viewing as the next major test for market expectations heading into the Fed’s September meeting. Within equities, technology and growth shares lagged, leaving the NASDAQ as the weakest major index, even as small-cap stocks bucked the overall pattern.

In FX, the EURUSD pair was little changed at about 1.1540, down 0.02%. USDJPY traded near 159.29 with little day-over-day movement.

Other major moves were limited, with GBPUSD marginally higher around 1.3504 and USDCHF up about 0.07% near 0.8108, while the dollar stayed subdued across most pairings, Forexlive said.

Latest closeNasdaq Comp. 26,445.45 ▼0.6%

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