The dollar settled near a seven-month low on Tuesday amid bets that the U.S. central bank will start cutting interest rates from next month, while traders await comments by Federal Reserve Chairman Jerome Powell on Friday.
The dollar's weakness lifted the euro to its highest level this year, while sterling held near a one-month high. The emerging market currency index also hit a record high.
The Japanese yen rose slightly to 146.50 against the dollar, hovering near the nearly two-week high touched in the previous session but still far from the seven-month high of 141.675 reached at the beginning of August.
Source (Al Arabiya.net Website, Edited)
