The dollar was trading near one-month lows against a basket of major currencies on Tuesday after Federal Reserve Chair Janet Yellen struck a mixed tone on the outlook for the economy and prospects for higher interest rates.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.17% at 93.88, not far from Monday’s lows of 93.74, the weakest level since May 11.
Speaking Monday, Yellen indicated that the U.S. central bank won’t be raising interest rates until uncertainty over the economic outlook is resolved.
Yellen said she expects the economic recovery to continue but gave no indications on the timing of a next rate increase.
The remarks came after data on Friday showing that the U.S. economy added just 38,000 jobs last month, the smallest increase since September 2010.
BUY GBPINR ABOVE 97.25 TG 97.35- 97.45-97.55 SL 97 BELOW CMP 97.23
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