Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Forex - Dollar broadly higher ahead of U.S. inflation data

ForexAug 10, 2017 05:25AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Dollar gains ground with U.S. inflation reports in focus

Investing.com - The dollar was broadly higher against the other major currencies on Thursday, as investors were eyeing U.S. inflation reports due later Thursday and on Friday for indications of whether the recovery in the greenback is sustainable in the longer term.

The greenback has been supported in recent sessions by upbeat U.S. employment reports, which fueled expectations the Federal Reserve will stick to its plans for a third interest rate hike this year.

USD/JPY slipped 0.19% to 109.86, just off Wednesday’s two-month low of 109.56, while USD/CHF edged up 0.19% to 0.9657.

Both the yen and the Swissie lost some steam but remained supported as heightened tensions between the U.S. and North Korea have sparked a flight to safety.

North Korea\'s state media said on Thursday that Pyongyang will develop a plan by mid-August to launch intermediate-range missiles at the U.S. territory of Guam.

The comments came after U.S. President Donald Trump said earlier in the week that North Korea would be "met with fire and fury" if it continued its threats.

The euro was down only 0.14% against the Swiss franc after losing 1.02% on Wednesday, marking the largest one day change since the Swiss National Bank shocked markets when it scrapped its currency peg with the euro in January 2015.

Elsewhere, EUR/USD slid 0.33% at 1.1720, while GBP/USD edged down 0.18% to 1.2981.

The pound was unfazed by data earlier showing that U.K. manufacturing production was unchanged in June, though industrial output registered a larger than expected increase.

The Australian and New Zealand dollars were weaker, with AUD/USD down 0.11% at 0.7881 and with NZD/USD tumbling 1.30% to 0.7271.

In a widely expected move, the Reserve Bank of New Zealand left interest rates unchanged at 1.75% on Thursday, but added that it still expects inflation to rise gradually.

RBNZ Governor Graeme Wheeler said monetary policy would remain accommodative for a while and that the Kiwi had risen since the last monetary policy statement in May partly in response to a weaker U.S. dollar.

Wheeler added that a lower New Zealand dollar would help increase inflation and achieve more balanced growth.

Meanwhile, USD/CAD edged up 0.19% to trade at 1.2626, the highest since July 14.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.24% at 93.63, just off the previous session’s more than one-week high of 93.77.

Forex - Dollar broadly higher ahead of U.S. inflation data
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Hiren Garasondia
Garasondia_Hiren Aug 10, 2017 5:35AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
see EU made a low $1.1689 range yesterday.............against sell @1.1900 range last week..........see call 1stttttttt---what next??????. . see GU made a low almost $1.2950 range today.............against sell @1.3250 range last week..........see call 1stttttttt---what next??????
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email