U.S. dollar ticks down as investors await U.S. inflation data

NEW YORK, July 11 (Xinhua) -- The U.S. dollar weakened on Tuesday as the benchmark 10-year U.S. Treasury yields slipped, while all eyes are on U.S. consumer prices data due on Wednesday.

The dollar index, which measures the greenback against six major peers, was down 0.24 percent to 101.7344 in late trading.

The U.S. Treasury yields have retreated from their highs seen last week, with the benchmark 10-year note dunking under 4 percent. Traders are looking ahead to Wednesday's U.S. June inflation report, which is expected to show prices cooled on an annual basis in June.

"Should the report show further signs of slowing inflation, this could fuel speculation around the Fed's hiking cycle nearing an end," said Lukman Otunuga, market analyst at FXTM.

Growth of risk asset prices in major markets and improving investors' sentiment also weighed on demand for the U.S. dollar on Tuesday.

Meanwhile, the governor of the Bank of England Andrew Bailey said on Monday night, "We will do what is necessary for as long as necessary to tackle inflation persistence and bring it back to the 2 percent target."

In late New York trading, the euro was unchanged at close to 1.0999 dollars from 1.0999 dollars in the previous session, and the British pound was up to 1.2928 dollars from 1.2856 U.S. dollars in the previous session.

The U.S. dollar bought 140.4630 Japanese yen, lower than 141.3010 Japanese yen of the previous session. The U.S. dollar was down to 0.8799 Swiss francs from 0.8854 Swiss francs, and it decreased to 1.3239 Canadian dollars from 1.3279 Canadian dollars. The U.S. dollar was down to 10.6696 Swedish Krona from 10.7647 Swedish Krona.