Will the CPI Crash the USD?
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Greenback dips ahead of fresh American data
On Friday, the American dollar went down versus other key currencies, drifting away from a recent two-week peak as market participants were preparing for a fresh storm of American data due later in the day, right after upbeat economic reports underpinned US optimism.
The currency pair EUR/USD went up 0.30%, trading at 1.1179, bouncing off last session’s two-week dip of 1.1130, after the IMF along with the euro zone's 19 finance ministers underpinned a payout of €8.5 billion to Greece for the purpose of averting another debt crisis.
The evergreen buck gained broadly after the publication of encouraging data on American initial jobless claims and on manufacturing activity in the Philadelphia as well as New York areas.
The data arose just a day after the Fed lifted interest rates in a highly anticipated move.
The currency pair USD/JPY soared 0.34%, trading at 111.30, while USD/CHF lost 0.25%, being worth 0.9728.
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