The global dollar rises timidly while awaiting inflation data in the US

The global dollar rises timidly while awaiting inflation data in the US

He global dollar It advanced a scant 0.1% this Wednesday as investors maintain their attention on the future of interest rates of the Federal Reserve (Fed) of the States Joinedso they wait for the data signals inflation which will be known this week.

He dollar index it advanced 0.1%, making gold less attractive. At 09:19 GMT, spot gold was down 0.8% at $2,342.50 per ounce. Prices reached an all-time high of $2,449.89 on May 20. Futures in the United States fell 0.6% to $2,342.90.

He dollar reached a high of 157.41 yen early on Wednesday, approaching the levels that caused the episodes of probable intervention of Tokyo at the end of April and beginning of May, although rising at a much slower pace than last month. It was later trading stable at 157.10 yen.

He dollar rose 0.12% against the yuan abroad, at 7.2774 units per dollar, its highest level in six weeks.

He euro reacted to German regional inflation data, falling to a near two-year low against the pound of 84.84 pence. German inflation rose slightly more than expected to 2.8% in May, although a level that is unlikely to do anything to alter expectations of a rate cut from the European Central Bank next month.

The euro was steady against the dollar at $1.0856, on track for its first monthly rise of the year, and gained a fraction against the pound at 85.15 pence.

According to CME’s FedWatch tool, traders see a 46% chance of a rate cut in September. Traders have reduced expectations of cuts due to the hawkish rhetoric of the Fed authorities.

It will be published on Friday the underlying personal consumption expenditure (PCE) index), the US central bank’s preferred inflation indicator.

US consumer price data, slightly weaker this month, weakened the dollar in general. Since then, however, the Treasury bond yields US have resumed their climb, with benchmark 10-year yields at their highest level in almost four weeks, at 4.57%.

In the foreign exchange market Uruguayhe dollar fell 0.06% on Tuesday, closing at 38,529 pesos, according to the official price of the Central Bank of Uruguay (BCU) and leaving behind four consecutive days of growth.

Despite the decrease, the US currency accumulates a monthly increase of 0.55% in May, although it has an accumulated depreciation of 1.26% at an annual level, after falling 0.49 pesos since the last exchange day of the year 2023 .

Source: Ambito

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