TOKYO : The dollar fell to near a three-week low to the euro and a one-month low versus sterling on Wednesday, after unexpectedly soft U.S. inflation data cemented the view that the Federal Reserve will skip an interest rate hike later in the day.China's yuan sagged to a 6-1/2-month trough, continuing its
TOKYO : The dollar fell to near a three-week low to the euro and a one-month low versus sterling on Wednesday, after unexpectedly soft U.S. inflation data cemented the view that the Federal Reserve will skip an interest rate hike later in the day.
The U.S. consumer price index edged up just 0.1 per cent last month, and notched its smallest year-on-year increase since March 2021 at 4.0 per cent. "Whilst it was enough to send EUR/USD above 1.0800, it wasn't enough to keep it there given a hawkish pause seems quite likely." The dollar eased 0.16 per cent to 140.02 yen. It rose to the highest since June 5 on Tuesday despite the soft U.S. inflation figures, with the Bank of Japan seen retaining ultra-easy policy settings on Friday.
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