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Dollar rises before yen waiting for Yellen
The dollar floated between highs and lows against other major currencies on Tuesday, 3, with the market awaiting speech from Federal Reserve chairman Janet Yellen and key economics data of the United States, such as the September payroll report.Investors are hoping to find new clues about the pace of monetary tightening in the US in Yellen's speech on Wednesday afternoon.
In addition, the foreign exchange market has limited trading until the payroll is released next Friday, 6, according to some traders. Compiled by the CME Group, Fed funds futures point to a 78 percent chance of the Fed raising interest rates in December, while a month ago the possibility was 44 percent.
The dollar floated between highs and lows against other major currencies on Tuesday, 3, with the market awaiting speech from Federal Reserve chairman Janet Yellen and key economics data of the United States, such as the September payroll report.Investors are hoping to find new clues about the pace of monetary tightening in the US in Yellen's speech on Wednesday afternoon.
In addition, the foreign exchange market has limited trading until the payroll is released next Friday, 6, according to some traders. Compiled by the CME Group, Fed funds futures point to a 78 percent chance of the Fed raising interest rates in December, while a month ago the possibility was 44 percent.
