x
Breaking News
0

Forex - Dollar Steady against Other Majors Ahead of U.S. Inflation Data

ForexSep 14, 2017 03:37AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Dollar steady ahead of U.S. inflation data

Investing.com - The dollar was steady against a basket of the other major currencies on Thursday as investor’s awaited data on U.S. consumer inflation later in the day for fresh indications on whether the Federal Reserve will hike rates again this year.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was at 91.39 by 03:21 AM ET (07:21 GMT).

The index has risen 1.14% so far this week, rebounding from last week’s more than two-year lows amid a relief rally spurred by diminished worries over North Korea’s nuclear program and the economic impact of Hurricane Irma.

Fresh hopes for the Trump's administrations plans for a tax overhaul helped support the dollar on Wednesday.

Meanwhile, data on Wednesday showed that while U.S. producer prices rose slightly in August inflation pressures remained tepid, a potential obstacle to the Fed’s plans to raise interest rates.

The report on consumer prices later Thursday will be closely watched as the Fed considers whether to raise rates again before the years end.

The dollar dipped against the yen, with USD/JPY last at 110.36.

The euro was a touch higher, with EUR/USD at 1.1894, holding below last Friday’s two-and-a-half year highs of 1.2091.

Sterling also edged higher, with GBP/USD at 1.3222 ahead of the Bank of England’s policy meeting later in the day.

The pound retreated from one-year highs against the dollar on Wednesday after the latest UK employment report showed that wage growth remained sluggish, adding to fears over a squeeze on living standards.

With inflation outstripping pay growth the squeeze on the cost of living is getting worse, which will likely deter the BoE from raising interest rates.

The Australian dollar was higher with AUD/USD up 0.24% at 0.8004 after domestic employment data, but gains were held in check by lackluster economic data from China, one of the country’s largest trading partners.

Forex - Dollar Steady against Other Majors Ahead of U.S. Inflation Data
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with 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
  • 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.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. 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.

 
Are you sure you want to delete this chart?
 
Write your thoughts here
 
Replace the attached chart with a new chart ?
Post
Post also to:
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.
 
Are you sure you want to delete this chart?
 
 
Replace the attached chart with a new chart ?
Post 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