© Reuters. Dollar slips vs. rivals with eyes on U.S. inflation report
Investing.com – The U.S. dollar was trading at one-week lows against other major currencies on Wednesday, as sentiment on the greenback remained vulnerable ahead of the release of highy-anticipated U.S. inflation data due later in the day.
Investors were eyeing an upcoming report on due later Wednesday for further clues on how fast the Federal Reserve will raise interest rates this year.
The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.19% at 89.43 by 02:05 a.m. ET (06:05 GMT), the lowest since February 6.
was down 0.55% at a 15-month low of 107.24 amid mounting expectations the Bank of Japan will follow the Federal Reserve and the European Central Bank’s examples in normalizing monetary policy despite recent comments to the contrary by the Japanese central bank.
The safe-haven Swiss franc was also stronger, with down 0.15% at 0.9330.
Elsewhere, the euro was higher, with up 0.15% at 1.2371, while held steady at 1.3896.
The Australian and New Zealand dollars were stronger, with up 0.23% at 0.7876 and with climbing 0.56% to 0.7314.
Earlier Wednesday, the Reserve Bank of New Zealand said that inflation expectations ticked up to from 2.0% for the first quarter.
In Australia, the Westpac consumer sentiment index fell in February after a 1.8% rise the previous month.
Meanwhile, slipped 0.16% to trade at 1.2572.
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.
Latest posts by investing.com (see all)
- CFTC – Commitments of Traders: Speculators Significantly Less Bullish on Euro - June 23, 2018
- Euro is here to stay: German finance minister - June 23, 2018
- Britain backs EU duties on U.S. goods: May's spokeswoman - June 22, 2018