Global growth fears, Fed keep dollar propped up

Published by
Reuters UK

By Tom Westbrook SINGAPORE (Reuters) – The dollar wobbled around just below multi-decade peaks on Tuesday, as traders waited on a rate hike from the U.S. Federal Reserve and for any clues about whether hints of a slowing economy will prompt a shift away from its focus on inflation. The euro inched up to $1.0235 but was hemmed in by uncertainty over Europe’s energy security which is not helped by a looming cut in the westbound flow of Russian gas. The yen steadied at 136.33 per dollar. The Fed concludes a two-day meeting on Wednesday. Traders have been dialling back expectations as markets try …

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