Dollar-euro stable, yen edges higher
Major currencies were little-changed with markets poised for US data to be released in three days.
NEW YORK (AFP) - Major currencies were little-changed Tuesday with markets poised for key US data to be released in the next three days.
But the Chinese yuan slipped further in the wake of the central bank s interest rate cut on Sunday.
The euro-dollar rate was stable, moving around the $1.1180 line in uneventful trading.
The yen rose to 119.74 to the dollar and 133.85 to the euro.
Markets are looking for fresh data to lay down markers for the direction of interest rates, said Kathy Lien of BK Asset Management.
"The most important piece of data on the US calendar tomorrow will be the non-manufacturing ISM report. If service sector activity slows alongside the manufacturing sector, it would reinforce our view that the Federal Reserve is in no rush to raise interest rates," she said,
The Chinese currency moved to 6.2766 per dollar from 6.2726 Monday, and 6.2650 Friday before the 0.25 percentage point cut in key rates was announced by the People Bank of China to stem disinflation.
