Will the CPI Crash the USD?
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Greenback shrugs off 15-month low
On Thursday, the evergreen buck inched away from a 15-month minimum against a basket of crucial currencies, although the US currency was still looking wobbly because of doubts as for whether there will be another American interest rate hike in 2017 or not.
Estimating the greenback's actual strength versus a bunch of major currencies, the US dollar index rallied 0.1% being worth 92.949. It dropped to 92.548 on Wednesday, its weakest outcome since May 2016.
The US currency has been suppressed by political turmoil holding Washington tight and also by largely uninspiring American economic data, especially sluggish inflation, contributing to uncertainty regarding the tempo of future Fed policy tightening.
The common currency slid 0.1% reaching $1.1845 versus the evergreen buck, drifting away from a 2-1/2 year maximum of $1.19105 hit on Wednesday, which is its highest value since January 2015.
The greenback didn’t change versus the Japanese yen sticking to 110.76, rebounding from a minimum of 109.92 yen hit earlier this week – the US currency’s lowest outcome for more than six weeks.
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