x
Breaking News
0

Forex - Dollar trims losses but U.S. data still weighs

ForexAug 11, 2017 10:49AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Dollar eases off 1-week lows vs. rivals but upside limited

Investing.com - The dollar trimmed losses against the other major currencies on Friday, but it remained under pressure as the release of disappointing U.S. inflation data dampened expectations for an additional rate hike by the Federal Reserve this year.

The dollar weakened after the U.S. Commerce Department said consumer prices rose less-than-expected last month. A separate report released a day earlier showed that producer price inflation and its core reading both unexpectedly declined in July.

The weak data was seen as lowering chances that the Fed will stick to its plans for a third interest rate hike this year.

USD/JPY was almost unchanged at 109.16, after hitting a four-month low of 108.74 earlier in the session, while USD/CHF held steady at 0.9624.

Safe-haven demand remained strong as tensions between Washington and Pyongyang persisted after U.S. President Donald Trump warned the peninsula on Thursday against attacking Guam or U.S. allies and said his first threat to unleash "fire and fury" may have not been tough enough..

North Korea's state media had earlier said that Pyongyang has the capacity develop a plan by mid-August to launch intermediate-range missiles at the U.S. territory of Guam.

In an attempt to dial down the aggressive rhetoric, US Defense Secretary James Mattis said war would be "catastrophic" and that diplomacy was gaining results.

Elsewhere, EUR/USD rose 0.20% to 1.1795, reversing earlier losses, while GBP/USD was little changed at 1.2983.

The Australian dollar was steady, with AUD/USD at 0.7878, while NZD/USD gained 0.32% to 0.7297.

Data earlier showed that the Business NZ Manufacturing Index ticked down to 55.4 in July from 56.2 the previous month, thus still clearly in expansion territory.

The kiwi had tumbled on Thursday after the Reserve Bank of New Zealand left interest rates unchanged, adding that a lower New Zealand dollar would help increase inflation and achieve more balanced growth.

Meanwhile, USD/CAD retreated 0.42% to 1.2691, off a one-month peak of 1.2753 hit overnight.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.14% at 93.16, just off a one-week low of 92.88 reached earlier in the session.

Forex - Dollar trims losses but U.S. data still weighs
 

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