FOREX-Strong German industry data pushes euro to near 3-week high

referring to In early London trading, the single currency rallied to a high of $1.1711, just shy of a three-week peak of $1.1722. But with a deadline for Washington to impose tariffs on Chinese imports also due, markets remained rangebound. ADVERTISEMENT"Chinese authorities have been clear they don't want to use the weaker yuan as a major foreign exchange trade policy... If they were to target a weaker yuan, it could potentially lead to problems, such as capital outflows (as) experienced back in 2015," said Shinichiro Kadota, senior FX & rates strategist at Barclays in Tokyo. The dollar's index against six rivals was 0.34 percent lower at 94.34, its lowest level in a week.

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

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-Trade hopes, German data support euro near 3-week highs

as mentioned in ADVERTISEMENTGerman industrial orders had a stronger-than-expected jump in May after four consecutive monthly drops, as demand from domestic customers and the rest of the euro zone picked up. Meanwhile, German carmakers are set to post their biggest daily gain since late March with Daimler, BMW , Volkswagen and Renault leading the broader index higher. The Fed will release minutes of its June meeting, with investors looking for clues on whether it is still on track to raise interest rates twice more this year. ADVERTISEMENTBeyond the outlook on interest rates, markets will be closely analysing the recent strength in European activity data. "The euro is getting a bit of a lift on the German data though the trade concerns will continue to dominate markets with the Fed minutes being the key data point," said Kenneth Broux, a currency strategist at Societe Generale in London.

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