Economic news

Review: Dollar heads higher on Fed leadership speculation

The dollar rose versus its counterparts on Tuesday after a report that U.S. President Donald Trump was backing a policy hawk as the next chairman of the Federal Reserve.

The dollar index edged up 0.05 percent versus a basket of six major currencies to 93.365 .DXY after climbing 0.25 percent overnight.

The dollar lost 0.1 percent to 112.070 yen, after increasing 0.3 percent overnight, when it jumped from a three-week trough of 111.650.

The euro slumped 0.15 percent to $1.1780, after sliding 0.25 percent in the previous session.

The pound sank 0.1 percent to $1.3241 ahead of Bank of England Governor Mark Carney's comments due later in the day for monetary policy cues.

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