The dollar on Wednesday held above 6.5-month lows hit in previous days, as comments from a senior Federal Reserve official rekindled expectations of possible U.S. interest rate rises. That, along with a recent sub-par U.S. data has weighed on the dollar in past weeks. The dollar was 0.1 percent higher at 111.85 yen JPY= after a bounce to 112.050 yen JPY=, its highest in a week. “Currencies are reacting quite calmly, as China is still seen to have enough reserve strength for further fiscal spending,” said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management in Tokyo. Elsewhere, the Canadian dollar stood steady at C$1.3518 CAD=D4 per dollar after touching C$1.3457 overnight, its strongest in a month.

Source: Egypt Independent May 24, 2017 09:11 UTC