U.S. Dollar Inches Down After Inflation Data
Friday, 28 June 2019 23:15 WIB |
CURRENCIES |DOLLAR Indeks Dolar
The U.S. dollar was slightly lower on Friday as investors waited for news from the G20 summit, while inflation data supported the Federal Reserve's patient approach to interest rates.
The U.S. dollar index, which measures the greenback™s strength against a basket of six major currencies, rose 0.1% to 95.790 by 11:11 AM ET (15:11 GMT).
Core inflation data rose in May, according to the Commerce Department. The data support the central bank taking a cautious approach to cutting rates, despite expectations among investors and pressure from President Donald Trump.
The chances of a rate cut at the Fed™s next meeting in July are still priced in at 100% according to Investing.com's Fed Rate Monitor Tool.
Meanwhile, the dollar was mostly flat against the safe-haven Japanese yen, with USD/JPY falling 3 cents to 107.73, as trade talks were in focus.
Source : Investing.com