Singapore — The dollar held above a 13-month low on Tuesday after readings on US factory and services activity beat expectations ahead of the start of a Federal Reserve meeting later in the day, but Asian stocks were subdued with few catalysts to drive them. The dollar and US treasury yields rose on the expectation the Fed will signal its readiness to begin reducing its bond portfolio at its September meeting. The dollar index, which tracks the greenback against a basket of six major peers, was steady at 93.951 on Tuesday, up from Monday’s low of 93.823, its lowest level since June 2016. The dollar was little changed at ¥111.065 on Tuesday, after touching a six-week low on Monday. The 10-year US treasury yield was at 2.2499% on Tuesday, not far from Monday’s close of 2.253% and above Friday’s three-week low of 2.225%. On Monday, Markit’s US manufacturing and services flash surveys both beat expectations, while eurozone business growth at the start of the second half of the year slow...
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