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On Monday, the evergreen buck went down against its key peers, losing traction as American Treasury yields were still low amid fading hopes that the Fed will raise interest rates again later in 2017.
The dollar index dropped versus a basket of six key currencies, showing 97.239, contributing to Friday's losses when it went down 0.4%.
The index had ascended to a one-month high of 97.871 earlier the previous week, underpinned by hopes that the major US bank would tighten its monetary policy again in September.
However, such hopes ebbed over the course of a week, with traders doubtful of another rate soar this year as American data on balance have edged down short of forecasts.
Yields on the benchmark 10-year Treasury note edged up after the major US bank suddenly tightened policy this month, though have drifted down since hopes for low inflation kept boosting demand for longer-dated debt. By the way, Friday's tumble brought it closer to a seven-month minimum of 2.103% reached on June 14.
The US dollar slumped 0.1%, being worth 111.235 yen, drifting away from a near one-month peak of 111.790 achieved last Tuesday.
As for the euro, it gained 0.05%, hitting $1.1198, having risen to a four-day peak of $1.1209 on Friday.
Reportedly, the ECB is analyzing the possibility of the change of the current inflation target of "below but close to 2%". It weakened the EUR
What is important today?
USD/SGD rises as the indicators disappoint the market.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…
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