Amwal Al Ghad English - 2014-07-16 07:57:12
The dollar clung to modest gains on Wednesday after bulls latched on to a comment by Federal Reserve head Janet Yellen that rates could rise sooner if employment continued to improve.
The Australian dollar, meanwhile, couldn't sustain a short-lived blip higher on better-than-expected Chinese growth data and it slumped as its New Zealand counterpart spiraled lower after benign domestic price data.
China's economy grew slightly faster than expected in the second quarter, bolstered by a burst of government stimulus.
The dollar index was last at 80.444, up about 0.1 percent on the day. The greenback was up about 0.1 percent at 101.74 yen after touching a one-week high of 101.77.
"Below the 101 yen figure, there are pure commercial orders from (Japanese) importers, but the upside is still capped," said Kaneo Ogino, director at Global-info Co. in Tokyo, a foreign exchange research firm.
"People are just waiting for the next trigger event," he said.
Speaking to a Senate committee on Tuesday, Yellen defended the U.S. central bank's loose monetary policy settings, saying the economic recovery was not yet complete. More»