US dollar retreats on weak inflation figures


FT/Jessica Dye/08-11-17

The US dollar has taken a hit after US consumer price growth failed to heat up as hoped in July.

The dollar index, which measures the buck against a basket of peers, made a hasty retreat as the latest figures showed consumer inflation undershooting analysts’ targets. At pixel time, it was down 0.4 per cent on the day to 93.03.

The latest in a string of underwhelming readings has fueled market concerns about how the Federal Reserve will react as it debates the path of future interest rate rises.

Share
This entry was posted in U.S. Dollar. Bookmark the permalink.

Comments are closed.