Investing.com – The U.S. dollar was little changed, while the Chinese yuan slipped after data showed the country’s exports shrank the most in 2 years in December.
The that tracks the greenback against a basket of other currencies slipped 0.07% to 95.195.
This week investors will be looking ahead to Tuesday’s data on U.S. producer price inflation as they continue to gauge the outlook for policy tightening by the Federal Reserve this year.
“The outlook for relative central bank policy has reached its climax in terms of offering the U.S. dollar support, and widening fiscal and current account deficits are expected to deliver medium-term weakness in the currency,” said Shaun Osborne, chief FX strategist, at Scotiabank in Toronto.
Data on Friday showed that U.S. consumer prices in December fell for the first time in nine months in December, although it seemed to had little impact on the market.
Meanwhile, the pair edged up 0.1% to 6.7674. Data on Monday showed China’s in December unexpectedly fell 4.4% from a year earlier, while also dipped 7.6% in their biggest since July 2016.
China exports to the U.S. slid 3.5% in December while its imports from the U.S. were down 35.8% for the month, the data revealed.
The People’s Bank of China (PBOC) set the yuan reference rate at 6.7560 vs Friday’s fix of 6.7909.
Elsewhere, the pair was down 0.4% to 108.12.
The pair and the pair were both 0.5% lower.
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)
- Forex – U.S. Dollar Remains Steady as Jobless Claims at 5-Week Low - January 17, 2019
- Forex – Dollar Pushes Higher; Pound Slips as Risk Sentiment Pressured - January 17, 2019
- Forex – British Pound Little Changed as May Wins Confidence Vote - January 17, 2019