TOKYO, June 27 — The US dollar held its ground against major currencies today as tension in Russia simmered and traders looked ahead to US data that may determine the timing of interest rate hikes.

Russian President Vladimir Putin said yesterday he let an aborted mutiny go on as long as it did to avoid bloodshed, a crisis that pushed the greenback to a 15-month high against the rouble.

The dollar index rose 0.04 per cent to 102.770. The rouble was flat at 84.40 per dollar after hitting its weakest level since March 2022.

The greenback traded at ¥143.43, down 0.06 per cent from late US levels. Japanese officials have sounded the alarm in recent days over rapid weakening of the currency.

US data this week include new orders for durable goods, housing figures, and consumer surveys from The Conference Board and University of Michigan.

Market participants expect the Federal Reserve to raise its funds target rate by 25 basis points in July, but the path beyond is less clear.

"We will have many US indicators, which I think will be mixed, so there will be no strong momentum, at least today,” said Masafumi Yamamoto, chief currency strategist at Mizuho Securities.

"Two more rate hikes are not fully priced in the market. If the US economic data comes out on the strong side, then further pricing in for the two rate hikes will push up the dollar,” Yamamoto said.

The euro was flat at US$1.09055 ahead of speeches by European Central Bank officials at the bank’s Forum on Central Banking in Sintra, Portugal, today and tomorrow.

The Australian dollar fetched US$0.66815, up 0.10 per cent, while the New Zealand dollar slid 0.08 per cent to US$0.6159. — Reuters