Dollar loiters off highs as traders wait on inflation data

U.S. Dollar banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration

SINGAPORE, Aug 9 (Reuters) – The dollar lurked just below recent highs on Tuesday as traders waited for U.S. inflation data due later in the week, wary of a surprise that could heap more upward pressure on interest rates.

The data is due on Wednesday and the anticipation is likely to keep things calm until then.

The Australian and New Zealand dollars rose overnight and were steady in the pre-CPI calm in Asia. The Aussie held gains at $0.6974. The kiwi did likewise at $0.6281, leaving both just above their 50-day moving averages.

Sterling held at $1.2084 and the euro was stuck just above parity at $1.0194, with the continent’s energy crisis meaning it may miss out on a boost if the dollar weakened. The yen held at…