Dollar rises ahead of key US inflation data

The US dollar rose on Thursday, on track for the second profit in three days against a basket of major rivals, ahead of the release of key US inflation data. 

The dollar index rose 0.2% to 90.28 points, after opening at 90.14 points, and hit a low of 90.12 points.

The US dollar closed flat yesterday, after it gained 0.2% the previous day, following weak data in Europe and China.

Investors expect US inflation data to lead to policy tightening by the Fed early next year by reducing bond purchases. 

At 12:30 GMT, the US consumer price index is expected up by 4.7% y/y in May from 4.2% in April, and the monthly reading is expected up 0.4% from 0.8%.