Euro edges higher to $1.1675 as oil prices and Treasury yields fall

The euro rose roughly $0.0011 against the dollar to close at $1.1675 in New York on the 25th, supported by falling WTI crude oil futures and a decline in the U.S. 10-year Treasury yield to the 4.61% range as expectations grew that U.S.-Iran ceasefire negotiations were advancing. Dollar-yen gained about 8 sen to ¥159.19, while euro-yen rebounded 27 sen to ¥185.84. Softer-than-expected U.S. economic data reinforced dollar selling, although Boston Fed President Collins said "prompt tightening would be appropriate" if inflation deceleration cannot be confirmed. Markets turned to the July PCE deflator on the 26th and Fed Chair Warsh's speech at the Jackson Hole Symposium on the 28th.

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