Figures on retail sales and industrial output are due Tuesday and analysts assume they will underwhelm, keeping downward pressure on the yuan.
Analysts at BofA say data on credit and debit card spending suggests sales could rise 0.7% with activity around the July 4 holiday stronger than last year. "Normalisation is not a particularly urgent motivation for cutting, and for that reason we also see a significant risk that the Fed will instead hold steady."
That rise juiced the dollar against the low-yielding yen, hoisting it as far as 145.22 and a peak not seen since November last year. Concerns about possible intervention then saw it edge back to 144.92. The euro has already reached its highest since late 2008 and was holding firm at 158.51 yen . The single currency was more range-bound on the dollar at $1.0933 .
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Source: TheSAnews - 🏆 25. / 59 Read more »