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Euro edges higher on dollar

The euro moved slightly higher against the dollar for a second day as the wind went out of US stocks and speculation of an early US rate rise eased.

NEW YORK: The euro moved slightly higher against the dollar for a second day on Tuesday as the wind went out of US stocks and speculation of an early US rate rise eased.

But market movements in the major currencies were generally minor with few signals for any direction changes.

The British pound was flat against the dollar and euro, and the yen was barely changed as well.

Kathy Lien of BK Asset Management said the momentum on the dollar of last week's surprisingly good US jobs data had petered out.

"Based on the continued decline in US yields, investors agree that the central bank won't be accelerating its plans for tightening," she said of the Federal Reserve.

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