FOREX-Dollar near 1 1/2-week highs as U.S. price data eyed

as mentioned in Having raised interest rates seven times since December 2015 to 2 percent, markets expect three or four rate hikes by the end of 2019. The dollar index against a basket of six major currencies edged up towards a one-week high of 94.769 reached overnight, trading at 94.753. For now, investors were looking U.S. consumer inflation data due at 1230 GMT for further clues on when and how fast the Fed will raise interest rates. The euro lacked momentum, meanwhile, trading at $1.1675, edging further off a 3 1/2-week high of $1.17905 touched on Monday. Damage to the profit margins of U.S. companies could prompt global investors to shy away from U.S. assets.

FOREX-Dollar falls as U.S. tariffs kick in; U.S. jobs data eyed

ADVERTISEMENT"The first batch of tariffs is a milestone in the trade war but a very well-telegraphed one. That helped the euro rise to $1.1727, its strongest since June 26. The Australian dollar, a liquid proxy to China-related trades, edged up 0.1 percent to $0.7405, suggesting the region's markets were greeting the tariffs calmly. Against the safe-haven yen, the dollar inched down 0.1 percent to 110.560 yen and the Chinese yuan remained weaker against the dollar. ADVERTISEMENTInvestors wanted to know whether the tariffs were a continuation of tit-for-tat measures or an escalation between the two countries.

FOREX-Dollar steady after U.S. tariffs kick in; China's response, U.S. jobs data eyed

As it stated in But the immediate response among major currencies was limited. ADVERTISEMENTThe dollar index against at basket of six major currencies was mostly steady at 94.388 after slipping to 94.177, its lowest since June 26, the previous day. The euro was steady at $1.1694 after rising 0.3 percent overnight, when it touched $1.1721, its strongest since June 26. ADVERTISEMENTThe U.S. Labor Department is expected to report nonfarm payrolls increased 195,000 in June after surging by 223,000 in May. China's yuan was 0.2 percent weaker at 6.6506 per dollar but still some distance from an 11-month low of 6.7204 set on Tuesday.

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