The dollar inched lower against the yen and euro after Federal Reserve Chairwoman Janet Yellen suggested the central bank’s first rate hike since 2006 may not occur until the second half of the year.
The dollar USDJPY, -0.24% was at ¥118.89 Tuesday afternoon, compared with ¥118.83 late Monday in New York. The euro EURUSD, +0.05% traded at $1.1342, compared with $1.1336.
The ICE U.S. Dollar Index DXY, -0.10% a measure of the dollar’s strength against a trade-weighted basket of six other currencies, declined 0.14% to 94.4410.
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