NEW YORK, Aug 10 — The safe-haven dollar edged higher on Tuesday, erasing earlier losses as risk appetite dwindled ahead of key inflation figures that could offer clues on how aggressive the Federal Reserve will be in its expected interest rate hike in September.
“There’s a lot of global issues and we cannot ignore them and that puts a lot of downward pressure on global growth,” Juan Perez, director of trading at Monex USA said of the dollar’s safe haven appeal. “If that happens, we’re testing parity again against the euro,” he said of the potential for more dollar strength.
Heightened expectations for aggressive near-term hikes, have pushed short-dated Treasury yields further above long-term peers.
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