#Business #Markets

U.S. Dollar at one week lows after benign inflation data

The dollar languished near one-week lows on Thursday after benign data on U.S. consumer prices and a decline in Treasury yields led some investors to trim bets on a rapid acceleration in inflation.

The dollar index against six major currencies was flat at 91.79 after hitting a one-week low of 91.75 earlier in Asia as data showed U.S. core consumer price growth slowed slightly in February. Against the euro, the dollar was quoted at $1.1932 per dollar, nursing a 0.2% loss from the previous session, while versus the safe-harbor Swiss franc, the greenback bought 0.9299 franc. The British pound bought $1.3935 after rising 0.3% on Wednesday.

The yen was the only major currency to cede ground to the dollar, falling about 0.2% to 108.55 yen. Elsewhere, the Australian and New Zealand dollars rose for the third straight session against the greenback as sentiment toward the antipodean currencies remains strong due rising commodity prices and expectations for an acceleration in global trade.

Mellisa Sithole.

Leave a comment

Your email address will not be published. Required fields are marked *