Dollar stabilizes near seven-month lows

Heba Press / Editorial Department

The dollar stabilized near a seven-month low on Tuesday as traders awaited a signal from the Federal Reserve about whether it could cut interest rates starting next month.

The dollar index, which measures the performance of the U.S. currency against six rival currencies, neared its lowest level since Jan. 2, at 101.82.

In other currencies, the Japanese yen edged up to 146.50 against the dollar, while the euro hit $1.1080 in its latest session, up 2.4 percent this month and on track for its strongest monthly performance since November.

The pound settled at $1.2985 in early trading, while the Australian dollar fell 0.12 percent to $0.6725 against its US counterpart, while the New Zealand dollar was unchanged at $0.61135.