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Dollar Climbing Ahead Of Fed Minutes


The dollar is up against all of its major rivals Tuesday afternoon. Traders are awaiting the release of the minutes from the latest Federal Reserve meeting tomorrow afternoon. Investors will be keeping an eye out for more signals about a possible rate hike in March.

There were no U.S. economic reports this morning, as investors made their way back to their desks following the long holiday weekend. Existing home sales are slated for Wednesday morning, while weekly jobless claims and the leading economic index will follow on Thursday.

The dollar has climbed to around $1.2335 against the Euro Tuesday afternoon, from an early low of $1.2409.

Germany's economic confidence declined less-than-expected in January, survey results from the Mannheim-based think tank ZEW showed Tuesday. The ZEW Indicator of Economic Sentiment dropped to 17.8 points in February from 20.4 in January. Though the score was above the expected level of 16.0, it was below the long-term average of 23.7.

Germany's producer price inflation eased to a 13-month low in January, figures from Destatis revealed Tuesday.

Producer price inflation slowed to 2.1 percent in January from 2.3 percent in December. This was the weakest since December 2016, when prices gained 1 percent. Nonetheless, the rate was bigger than the expected 1.8 percent.

The buck rose to an early high of $1.3930 against the pound sterling Tuesday, but has since retreated to around $1.3990.

The greenback has risen to around Y107.300 against the Japanese Yen this afternoon, from an early low of Y106.637.

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