Dollar resumes decline before US inflation data

2019-01-11 13:55:29 GMT (Economies.com)
Dollar resumes decline before US inflation data

Dollar fell in European trade on Friday against a basket of major currencies after a hiatus from losses yesterday, nearing three-month lows again under pressure from doubts of US rate hikes in 2019. 

 

The dollar index fell 0.3% to 94.77 from the opening of 95.03, with an intraday high at 95.08. 

 

The index rose 0.4% yesterday off three-month lows at 94.62 marked earlier in the session. 

 

The index lost 1% last week, heading for the fourth weekly loss in a row, the longest such streak since December 2017 as estimates of US rate hikes diminished for 2019. 

 

Analysts expect a slower pace of US rate hikes in 2019 according to the Fed's meeting minutes. 

 

The minutes showed several policymakers favor maintaining interest rates unchanged this year, while hinging a hike solely on data. 

 

Federal Reserve Chair Jerome Powell is scheduled to speak at the Economic Club of Washington DC later today, with investors hoping for more clues on the future of interest rates. 

 

Now investors await US inflation data for December, which might change perspectives for the pace of US policy tightening this year.  

 
 
 
  Symbol Last Change Chg.%
1.1269
0.0051
0.4535%
1.2687
0.0104
0.8276%
15.271
0.403
2.707%
54.767
2.258
4.300%
62.65
0.82
1.33%
1380.880
39.600
2.952%
 
 
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