The U.S. dollar held quietly firm on Tuesday as the prospect of rising U.S. interest rates this year kept sentiment bullish, while a surprisingly upbeat reading on Chinese manufacturing gave the Aussie dollar a lift. A holiday in Japan made for thin trade, leaving the dollar steady around 117.35 yen JPY= but well up on Friday's trough of 116.05.
Against a basket of currencies, the dollar was 0.4 percent firmer at 102.600 .DXY. The euro did creep higher from an early $1.0455 low to stand at $1.0485 EUR=, but remained well short of the $1.0700 peak touched during Friday's brief spike. A dearth of liquidity had been largely behind that wild swing, and the market is now so long dollars that it is vulnerable to sudden corrections.
The U.S. dollar held quietly firm on Tuesday as the prospect of rising U.S. interest rates this year kept sentiment bullish, while a surprisingly upbeat reading on Chinese manufacturing gave the Aussie dollar a lift. A holiday in Japan made for thin trade, leaving the dollar steady around 117.35 yen JPY= but well up on Friday's trough of 116.05.
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