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US dollar mixed on weak data, Fed uncertainty

New York, Aug 2 (IANS) The US dollar traded mixed against other major currencies as weak US economic data kept the Federal Reserve’s policy outlook uncertain.

In late New York trading on Tuesday, the euro fell to $1.1810 from $1.1825, and the British pound climbed to $1.3218 from $1.3193, Xinhua news agency reported.

The Australian dollar decreased to $0.7977 from $0.7990.

The US dollar bought 110.23 Japanese yen, lower than 110.37 yen of the previous session. The US dollar fell to 0.9652 Swiss franc from 0.9663 Swiss franc, and it edged up to 1.2526 Canadian dollars from 1.2478 Canadian dollars.

On the economic front, US personal income decreased less than 0.1 per cent in June, below an expected 0.3 per cent increase, according to the Commerce Department on Tuesday.

In June, personal consumption expenditures (PCE) increased $8.1 billion, or 0.1 per cent.

Analysts said investors were becoming less certain that the Fed would raise interest rates again this year. Expectations for a rate hike in December stood at 52 per cent on Tuesday, according to CME Group’s FedWatch program.

The dollar index, which measures the greenback against six major peers, was up 0.10 per cent at 92.956 in late trading.

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