Dollar Soft During Tuesday’s Trading

The US dollar was soft during Tuesday’s trading. The currency managed to gain on the Japanese yen but had little success against other most-traded currencies.
Chinese stocks dropped at the start of the trading session but bounced to close higher. This led to a rally of other global stocks and the risk-favorable sentiment on the markets.
Another reason for traders’ optimism was speculations that the September interest rate hike from the Federal Reserve is highly unlikely. Last week’s mixed non-farm payrolls supported such view. As a result, the dollar has lost some of its attractiveness to speculators.
EUR/USD advanced from 1.1168 to 1.1202 and GBP/USD edged up from 1.5268 to 1.5392 as of 21:26 GMT today. USD/JPY was up from 119.26 to 119.83.

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