Greenback stands still versus other majors ahead of American inflation data

Greenback stands still versus other majors ahead of American inflation data

On Thursday, the evergreen buck didn’t change versus a basket of the other key currencies because market participants waited for reports on American consumer inflation later in the day for new indications on whether the major US bank will raise rates again in 2017.

Estimating the greenback’s actual value versus a trade-weighted basket of six main currencies, the US dollar index hit 91.39.

The given index has ascended 1.14% so far this week, drifting away from the previous week’s more than two-year minimums amid a relief soar spurred by reduced concerns over North Korea’s nuclear program as well as the economic impact of Hurricane Irma.

Renewed expectations for the Trump's administrations plans for a tax overhaul underpinned the evergreen buck on Wednesday.

The greenback sank versus the Japanese yen, with USD/JPY showing 110.36.

The common currency was a bit higher, with EUR/USD being worth 1.1894, staying below last Friday’s two-and-a-half year maximums of 1.2091.


Greenback inches up on American import price data

On Tuesday, the evergreen buck managed to surge versus a currency basket underpinned by data disclosing that American import prices tacked on more than predicted in February, driving hopes for a pickup in inflation in 2018…


ECB Meeting

Traders are impatiently waiting for the European Central Bank’s meeting on October 26…


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