FOREX-Dollar inches up as Fed eyed for June rate steer

The auction results can affect the New Zealand dollar as the dairy sector generates more than 7 percent of the country's gross domestic product. The New Zealand dollar rose to $0.6969 at one point, its highest since April 25. The dollar last traded at 112.02 yen , still not very far from a six-week high of 112.33 yen set on Tuesday. The New Zealand dollar touched a one-week high, after data showed that New Zealand's jobless rate fell close to eight-year lows in the first quarter. The euro held steady at $1.0930 , trading within sight of a 5-1/2 month high of $1.0951 scaled last week.


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FOREX-Dollar inches up as Fed eyed for June rate steer

For Reuters Live Markets blog on European and UK stock markets see reuters://realtime/verb=Open/url=http://emea1.apps.cp.extranet.thomsonreuters.biz/cms/?pageId=livemarkets (Additional reporting by Masayuki Kitano in Singapore; Editing by Andrew Heavens) ((jemima.kelly@thomsonreuters.com; +44)(0)(20 7542 7508; Reuters Messaging: jemima.kelly.thomsonreuters@reuters.nets)) Keywords: GLOBAL FOREX/ (UPDATE 3) The euro edged down 0.2 percent against the broadly stronger dollar to $1.0911 , close to last week's peak of $1.09515. A June hike is currently 65 percent priced in by markets, according to Reuters data. Against the yen, the dollar was up 0.2 percent at 112.22, close to a six-week high of 112.33 yen set on Tuesday <=JPY>. "The data of late probably hasn't been enough to justify any excess buoyancy or excess bullishness (but) given the experience of March, when no one thought it was a live meeting and then the Fed turned it into a live meeting, I don't think anyone would make that mistake again."




For Reuters Live Markets blog on European and UK stock markets see reuters://realtime/verb=Open/url=http://emea1.apps.cp.extranet.thomsonreuters.biz/cms/?pageId=livemarkets (Additional reporting by Masayuki Kitano in Singapore; Editing by Andrew Heavens) "(But) given the experience of March, when no one thought it was a live meeting and then the Fed turned it into a live meeting, I don't think anyone would make that mistake again. All we need is a late flurry of data in May and then the Fed, if it sees a window, will hike in June." Against the yen, the dollar was up just 0.1 percent to 112.12, close to a six-week high of 112.33 yen set on Tuesday . A June hike is currently 70 percent priced in, according to CME FedWatch.


collected by :John Miller

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