The dollar rose on Tuesday after a survey showed that credit conditions in the United States were less bleak than expected, while the pound sterling flirted with its highest levels in a year amid expectations that the Bank of England (central) will raise interest rates this week.<\/p>\n\n\n\n
Currencies were little affected by data showing Chinese imports contracted sharply in April on an annual basis, with exports growing at a slower pace in March.<\/p>\n\n\n\n
The Chinese yuan in foreign markets fell 0.1 percent to 6.9282 yuan per dollar, and the yuan lost in domestic transactions by the same percentage, recording 6.9218 yuan per dollar.<\/p>\n\n\n\n
China’s official purchasing managers’ index last month showed that manufacturing activity contracted unexpectedly in April, another sign of the country’s unstable economic recovery after the COVID-19 pandemic.<\/p>\n\n\n\n
The Australian dollar rose 0.03% to $0.6783, close to a three-week high of $0.6804 it hit on Monday.<\/p>\n\n\n\n
The New Zealand dollar fell 0.08% to $0.6340, but it was not far from its one-month high of $0.63585 recorded in the previous session.<\/p>\n\n\n\n
The dollar index settled at around 101.44, giving up some of its early gains during Tuesday’s trading session.<\/p>\n\n\n\n
The Japanese yen rose about 0.15 percent to 134.92 yen per dollar.<\/p>\n\n\n\n
The pound sterling was last trading at $1.2618, not far from the highest level in a year recorded in the last session at $1.2668 before the Bank of England’s monetary policy meeting on Thursday.<\/p>\n\n\n\n
The central bank is expected to raise interest rates to 4.5 percent as part of its attempts to curb the highest level of inflation among all advanced economies.<\/p>\n","protected":false},"excerpt":{"rendered":"
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