US dollar lifts from 11-week low despite soft economic data, tariff worries

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US dollar lifts from 11-week low despite soft economic data, tariff worries - Channel News Asia

Quick Summary:

TOKYO : The U.S.dollar pulled off an 11-week low versus major peers on Wednesday, helped by a rebound in short-term Treasury yields even as a run of weak economic data weighed on investor sentiment.

A survey of German consumer sentiment is due later in the day.Sterling slipped 0.2 per cent to $1.2640, after touching a more than two-month peak of $1.2690 at the start of the week.

Optimism for more spending in Germany has supported the single currency, although election winner Friedrich Merz on Tuesday ruled out a rapid reform to state borrowing limits - known as the "debt brake" - and said it was too soon to say whether the outgoing parliament could wave through a massive military spending boost.