The dollar eased on Tuesday after rallying overnight as strong U.S. economic data reinforced expectations that the Fed will hike interest rates again in May.
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will hike interest rates again in May, while investors awaited data from China that will highlight the extent of the recovery of the world's second biggest economy., which measures the currency against six major rivals, fell 0.039% to 102.05, after rising 0.5% overnight.confidence among U.S. single-family homebuilders improved for a fourth straight month in April, while manufacturing activity in New York state increased for the first time in five months.
Markets are pricing in a 91% chance of the Fed raising interest rates by 25 basis points at its next meeting in May, CME FedWatch tool showed, with traders expecting rate cuts towards the end of the year.
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