The U.S. dollar edged higher in early European trade Tuesday, but remained near a three-month low as traders awaited key inflation data amid growing conviction that the Federal Reserve has completed its rate-hiking cycle.
At 04:20 ET (09:20 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, rose 0.1% to 103.130, trading just above its lowest level since Aug. 31.
The dollar was on track for a loss of more than 3% in November, its worst monthly performance in a year.
In Europe, EUR/USD fell 0.1% to 1.0947, but remained near its highest levels since mid-August with consumer confidence data from German and France suggesting a slight improvement.
The latest EU inflation data is due for release later this week, and is expected to show an easing of pressures.
GBP/USD rose slightly to 1.2626, trading near an over two-month high.
In Asia, USD/JPY traded marginally lower at 148.64, with the yen helped by the continued dollar weakening.
The Japanese currency may, however, be in for some turbulence depending on the outcome of this week's inflation data from the United States, as well as industrial production and retail sales readings from Japan.
AUD/USD rose marginally to 0.6607, after Australian retail sales unexpectedly shrank in October, spurring some bets that inflation will trend lower in the coming months.
Source: Investing.com
