25.02.201406:25:31UTC+00Dollar stabilizes, seeks clearer US data

The dollar stood firm versus its peers in early Asian trade on Tuesday. Traders sought for clearer pace of the US economic recoup following a series of soft figures released in the last few weeks.

The dollar index was sturdy at 80.21, close to the center of its range last week between 79.93 and 80.42, with riskless haven demand for the greenback dwindling on growing expectations Ukraine may get some stability, after the Russian-backed President Viktor Yanukovich was ousted.

The immediate focal point for the dollar is on US data due today, including house price index and consumer confidence. In the last few weeks, markets have had to struggle with pessimistic surprises on US hiring, retail sales, and housing figures.

Traders are also looking forward to Thursday, when Federal Reserve Chair Janet Yellen testifies to the Senate Banking Committee in her semi-annual report on monetary policy. Yellen's first few reports, since replacing Ben Bernanke as Fed Chair, have hugely backed the present pace of cutting down the stimulus, implying the latest weakness in the economy was simply a blip.

The yen trammeled well-known ranges of the last couple of weeks, with the dollar at ¥102.47. The Australian dollar remained firm at $0.9041, not far from five-week peak of $0.9081 last week. Risk currencies such as Aussie benefited from Wall Street's gain to almost record highs as well as on anticipations of steadiness in Ukraine.

Ukraine's dollar bonds surged on Monday and its five-year debt insurance costs slipped as hopes grew the country would obtain support from Western donors. But traders noted it is not yet clear how Ukraine, seized in a geopolitical battle between Russia and the West, can secure funds it needs to evade default and amplify its trembling economy.