Greenback narrows in on July highs -The.......>

FOREX: Greenback narrows in on July highs

-The aversion of a last minute cliff-edge debt ceiling response helped bump the

dollar higher still Tuesday, narrowing the gap between today's price and July's

best levels of 97.588. A higher, but flatter, US yield curve has also helped,

with 10y yields up over a basis point in early European hours.

-The USD's gains are most evident against NZD and NOK so far, which retrace

recent strength, but GBP also sits weaker against most others in anticipation of

the new Prime Minister due to be announced at around 1145BST/0645ET today. The

new leader's maiden speech will be carefully eyed for any further clues on their

approach to Brexit.

-ZAR trades poorly following a statement from the South African finance ministry

- the country may boost its borrowing plans in order to further fund the

finances of beleaguered utility Eskom. The news helped boost USD/ZAR back to

levels just shy of the week's highs at 13.9751.

-Eurozone consumer confidence and US existing home sales data are the calendar

highlights. BoE's Haldane also releases a speech at 1320BST/0820ET.