The euro hit a two-week low on Tuesday as a worsening downturn in euro zone business muddied the bloc's rate outlook against a still-hawkish European Central Bank (ECB), while the dollar rose ahead of this week's trio of major central bank meetings.
, with a majority of economists polled by Reuters expecting that to mark the last increase of the central bank's current tightening cycle.
"Incoming activity data has been stronger than expected in June and July," he said. "The Fed will have to explain what they make of the resilient U.S. economy." The offshore yuan rose nearly 0.5% to 7.1540 per dollar, with investors encouraged by comments from China's top leaders at the closely-watchedsignalling more support for its weakening economy, though many were still seeking out specific details on greater stimulus measures.
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