The dollar falls back on Tuesday as the Fed signals that the cycle of rate increases is nearing its end. The euro stands at $1,10045, its highest level since June 22

The dollar weakened after Federal Reserve officials reported that the central bank was nearing the end of its tightening cycle, although it traded within a narrow range before a key report on US inflation. The comments sent the greenback to a two-month low of 101.71 against a basket of currencies in trade with Asia, as traders lowered their expectations about the magnitude of the rise in American interest rates

The British pound rose against the euro and the dollar on Tuesday, as expectations of a further rise in key Bank of England (BoE) rates strengthened after data on employment in the United Kingdom. Around 09:00 GMT (11:00 CET), the pound was gaining 0.25% at 1.2893 dollars and 0.21% at

The Chinese yuan exceeds the key level thanks to housing support measures. It reached peaks in two weeks. The Chinese currency, in onshore and offshore exchanges, strengthened by exceeding the psychologically important level of 7.2 per dollar. The terrestrial yuan reached 7.1934 per dollar at one point, its highest level since June 21. It last traded at 7.1989 at 0710 GMT. Its offshore counterpart followed suit and strengthened to a maximum of 7.1950, the highest level since June 26. It was last traded at 7,2020

The Russian ruble has strengthened, moving away from its lowest level in more than 15 months reached last week after a collapse caused by an abortive armed mutiny. At 0700 GMT, the ruble strengthened by 0.4% against the dollar to 90.0. It reached 93.85 on July 6, its lowest point since March 28, 2022. The ruble gained 0.2% to exchange at 99.2 against the euro. It lost 0.06% against the yuan to

The South African rand strengthened early on Tuesday, ahead of local manufacturing data that could provide more clues about the health of the economy. At 0619 GMT, the rand traded at 18.7225 against the dollar, about 0.3% stronger than

The dollar index was down about 0.2% against a basket of currencies, hovering near a two-month low, as traders lowered expectations about the path of rising Federal Reserve interest rates.

The pound rose to its highest level in 15 months, at 1.28875 dollars, while the euro reached its highest level in two months, at 1.1022 dollars.

In Asia, the yen was one of the biggest increases, surpassing $141 for the first time in nearly a month and trading at 140.77. The yen has risen by around 3% since its seven-month low reached last month, when it weakened and surpassed the highly monitored level of $145, putting operators on alert about possible intervention by Japanese authorities

Elsewhere, the Australian dollar rose 0.14% to $0.6686, while the New Zealand dollar stabilized at $0.6210.