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Dollar Stable In Quiet Dealing Tuesday Morning 10 days ago
(RTTNews) - The dollar fell no further versus other major currencies Tuesday morning as traders paused in the absence of first-tier readings on the US economy.
On Monday, the dollar hit a 15-month low against a basket of major counterparts, hurt by comments to the G-20 by Treasury Secretary Timothy Geithner, who urged that accommodative monetary policy and stimulus programs be kept in place under the global economic recovery is assured.
A trio of policy makers from the Federal Reserve will be speaking on the outlook for the economy later today. Traders could be paying close attention for clues about when the central bank will begin to unwind measures designed to prop up the fragile economy.
Atlanta Federal Reserve Bank President Dennis Lockhart, San Francisco Federal Reserve Bank Janet Yellen, and Dallas Federal Reserve Bank President Richard Fisher will be speaking at separate events across the country.
The weekly jobless claims report and the preliminary report of the Reuters/University of Michigan's consumer sentiment survey are the only major data points on tap later this week.
The dollar continued to hang around the $1.50 mark versus the euro Tuesday morning, having tested a 15-month low of 1.5059 from October.
The dollar was steady versus the sterling after coming under heavy pressure during the previous session. The buck help near 1.6650, an improvement from yesterday's 3-month low of 1.6842.
Versus the yen, the dollar firmed up a bit to settle near 91. This buck has managed to steady since coming near a 1995 low of 88.07 in October.
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