The dollar hovered near its lowest level in more than a year against a basket of other major currencies on Tuesday, and the pound hit a multi-year high, as investors looked for fresh clues about a widely expected U.S. interest rate cut in September.
The Australian dollar rose to an eight-month high and was last trading at $0.06793.
Overall, movements in the foreign exchange market remained slight as traders awaited any new indicators related to the world’s largest economy.
The dollar index, which measures the greenback’s performance against a basket of other major currencies, rose 0.2 percent to 100.78, hovering above a 13-month low of 100.51 hit in the previous session.
Over the course of the month, the dollar fell 3.4 percent, heading for its biggest monthly decline since November 2022.
Sterling fell 0.14 percent to $1.3243 after hitting its highest level since March 2022 against the dollar at $1.3269 yesterday, Tuesday.
The euro also fell 0.24 percent against the dollar to $1.1156, but remained close to a 13-month high touched at the start of the week.
The yen moved further away from a three-week high of 143.45 per dollar hit on Monday, falling 0.23 percent in recent trading to 144.33 per dollar.
The New Zealand dollar fell 0.1 percent to $0.6246.