Its been a brutal stretch for the dollar, which has returned a significant portion of their gains after economic meltdown. During the agony of the near collapse of the financial system, the dollar rose to highs of several years, but has since fallen under the weight of increased risk appetite.
With stocks shot more, traders have been in pursuit of higher risk, higher yielding assets. Consequently, the dollar has fallen to levels not seen since 2008 against all races, but the yen.
Tuesday traders assessed a pair of economic reports, but the participants will be essential until Friday's monthly employment report. Pending home sales rose for the fifth straight month in June, according to industry data.
The dollar barely moved to each report, staying near yesterday's 8-month low of 1.4444 against the euro. Meanwhile, the dollar improved slightly from a minimum of 10 months of 1.7004 against the pound.
With oil prices stabilizing around 70 dollars, the dollar held its ground against the Canadian dollar. After reaching a 10-month low of C $ 1.0630, the dollar hovered near C $ 1.0700.
The ball extended his streak of choppy trading against the yen, bouncing around 95.
In the global economic front, the Eurostat in a report that the euro zone industrial producer price index or PPI fell 6.6% on year in June compared with a fall of 5.9% in the previous month. The May figure was revised 5.8% decline initially reported. The PPI was in line with economists' expectations.
Index UK CIPS / Markit Purchasing Managers Construction rose to 47 in July, a survey by Chartered Institute of Purchasing & Supply and Markit Economics on Tuesday. Economists expected the index to rise to 45 from 44.5 in June. However, the index stood below the neutral level.
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