Indian rupee rises 21 paise to 68.36 against USA dollar

US dollar down on as Trump makes fresh threats vs China

US dollar down on as Trump makes fresh threats vs China

Federal Reserve Chairman Jerome Powell gave lawmakers an upbeat assessment of the economy and expects to keep raising interest rates gradually.

The dollar index rose 0.18 per cent, to 95.113 after rising as high 95.407. Japan's Nikkei rose 0.8 percent, supported by exporters' gains.

The TSX Venture Exchange dropped 2.52 points Tuesday to 713.11. The Nikkei average rose 96.83 points or 0.43 percent to 22,794.19, its highest level since June 15. Still, overall gains were capped by declines in energy, with CNOOC down 1.59 percent in the morning.

MSCI's gauge of stocks across the globe gained 0.17 percent and touched its highest point in a month.

BHP shares jumped 3.3 percent while rival Rio Tinto closed 0.4 percent higher.

The index shed 0.25 percent on Monday, nudging away from a two-week high of 95.241 scaled on Friday ahead of Fed Chairman Powell's testimony.

In testimony, Fed Chairman Jerome Powell said he sees the United States on track for years more of steady growth.

However, Powell believed that it was too early to say how trade policy would influence the Fed's monetary policy as it is "difficult to predict" the ultimate outcome of current discussions over trade policy as well as the size and timing of the economic effects of the fiscal stimulus.

Facebook probing analytics firm with Russian ties
The company reportedly had contracts with the US government and a Russian nonprofit with connections to the Kremlin. The brands it has worked with include Adidas, Samsung , GM, Walmart and General Mills , according to its website .

The Fed has lifted its key policy rate twice this year.

Earnings optimism was boosted by a report from the Federal Reserve showing an increase in USA industrial production led by a rebound in manufacturing.

The dollar index, which measures the greenback's value against basket of six major currencies, was up at 94.39.

Following a relatively busy start to the week, with the markets responding to slower growth in China, stats through the Asian session were limited to 2 quarter inflation figures out of New Zealand, with the RBA meeting minutes also released later in the session.

Traders said mild buying by local jewellers at domestic market supported the recovery in gold prices, but a weak trend overseas, as the dollar firmed on the potential for further United States interest rate hikes, capped the gains.

At 5 p.m., the dollar stood at ¥113.05-06, up from ¥112.34 at the same time Tuesday.

Global benchmark Brent crude dipped as concerns about mounting supply returned after a brief rally earlier in the session on comments that Saudi Arabia's exports would fall in August. The euro was down 0.13 per cent to US$1.1644.

But North Dakota Democrat Heidi Heitkamp said she was becoming frustrated with the idea of "short-term pain for long-term gain", noting that the energy sector in her state already had been hit by higher steel prices because of import tariffs and farmers were anxious about permanently losing market share because of retaliatory levies imposed on their goods.

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