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US Dollar treads water near 7-month lows ahead of U.S. inflation data
The dollar was rangebound on Tuesday, hovering around its weakest level in seven months versus the euro and a group of other major currencies, as traders awaited U.S. inflation data later this week to help firm up interest rate hike expectations. The euro EUR=EBS was up 0.1% against the greenback to $1.07415at 3:20 p.m. EST (2020 GMT), just below a seven-month high of $1.07605 hit on Monday. Sterling GBP=D3 dipped 0.18% to $1.21585, just below Monday's three-week top. The dollar has been trending lower as investors and traders question whether the Federal Reserve will have to increase its target interest rate beyond ... (full story)