Investing.com - The U.S. dollar traded mixed against its major rivals during Tuesday’s Asian session as traders awaited additional clues from the Federal Reserve regarding the central bank’s plans for quantitative easing program.
In Asian trading Tuesday, EUR/USD inched up 0.01% to 1.3338 after Germany’s Bundesbank on Monday said the European Central Bank’s commitment to keeping rates low to spur recovery doesn't mean the monetary authority won't take action to curb rising inflation rates down the road.
In its monthly report, Germany’s Bundesbank said the euro zone economy would benefit from record low interest rates set by the ECB, though the report added that the ECB’s pledge to keep borrowing costs low for an extended period would depend on the medium-term inflation outlook. Germany is the euro zone’s largest economy.
USD/JPY rose 0.12% to 97.69 after data published Monday revealed that Japan posted a larger-than-expected trade deficit of JPY1.024 trillion in July. Exports rose 12.2% on a year-over-year basis, boosted by a weaker yen, while imports climbed 19.6%. Analysts were expecting a JPY786 billion trade gap.
GBP/USD inched down 0.01% to 1.5649 while USD/CHF nudged higher by 0.02% to 0.9244. USD/CAD rose slightly by 0.03% to 1.0350.
The Fed will release the minutes of its July monetary policy meeting on Wednesday, and market sentiments grew that the monetary authority may signal plans to begin scaling back stimulus programs later this year, which sent gold falling.
Yields on 10-year U.S. Treasury bonds have surged 15.5% since July 19, indicated that many felt the U.S. central bank may hint at a need to begin tapering stimulus programs in September, which sent gold falling.
AUD/USD fell 0.21% to 0.9096 ahead of the release of minutes from the Reserve Bank of Australia’s most recent meeting. NZD/USD fell 0.20% to 0.8053. The U.S. Dollar Index inched up 0.03% to 81.31.
In Asian trading Tuesday, EUR/USD inched up 0.01% to 1.3338 after Germany’s Bundesbank on Monday said the European Central Bank’s commitment to keeping rates low to spur recovery doesn't mean the monetary authority won't take action to curb rising inflation rates down the road.
In its monthly report, Germany’s Bundesbank said the euro zone economy would benefit from record low interest rates set by the ECB, though the report added that the ECB’s pledge to keep borrowing costs low for an extended period would depend on the medium-term inflation outlook. Germany is the euro zone’s largest economy.
USD/JPY rose 0.12% to 97.69 after data published Monday revealed that Japan posted a larger-than-expected trade deficit of JPY1.024 trillion in July. Exports rose 12.2% on a year-over-year basis, boosted by a weaker yen, while imports climbed 19.6%. Analysts were expecting a JPY786 billion trade gap.
GBP/USD inched down 0.01% to 1.5649 while USD/CHF nudged higher by 0.02% to 0.9244. USD/CAD rose slightly by 0.03% to 1.0350.
The Fed will release the minutes of its July monetary policy meeting on Wednesday, and market sentiments grew that the monetary authority may signal plans to begin scaling back stimulus programs later this year, which sent gold falling.
Yields on 10-year U.S. Treasury bonds have surged 15.5% since July 19, indicated that many felt the U.S. central bank may hint at a need to begin tapering stimulus programs in September, which sent gold falling.
AUD/USD fell 0.21% to 0.9096 ahead of the release of minutes from the Reserve Bank of Australia’s most recent meeting. NZD/USD fell 0.20% to 0.8053. The U.S. Dollar Index inched up 0.03% to 81.31.