A picture illustration shows U.S. 100 dollar bank notes taken in Tokyo August 2, 2011. REUTERS/Yuriko Nakao/File Photo

The dollar rose from near a three-week low against major rivals on Tuesday, buoyed by a bump in Treasury yields, as traders awaited highly anticipated U.S. inflation data later in the day.

The greenback has eased back along with U.S. yields this month after surging to multi-month peaks on expectations that massive fiscal stimulus coupled with continued monetary easing will spur faster U.S. economic growth and higher inflation.

Retail sales figures due Thursday will also be closely watched.

Boston Federal Reserve Bank President Eric Rosengren said on Monday that the U.S. economy could see a significant rebound this year thanks to accommodative monetary and fiscal policy, though the labour market still has much room for improvement.

The dollar index , also known as DXY, added 0.2% to 92.281 in the Asian session, moving…

Read more…

Share.

Comments are closed.