HomeLatestU.S. dollar stays almost flat as buyers await U.S. inflation report

U.S. dollar stays almost flat as buyers await U.S. inflation report

NEW YORK, Aug. 9 (Xinhua) — The U.S. dollar stayed almost flat on Wednesday, as buyers have been ready for Thursday’s U.S. client worth index (CPI) report for July.

The dollar index, which measures the buck in opposition to six main friends, edged down 0.03 p.c to 102.4884 in late buying and selling.

According to the Federal Reserve Bank of Cleveland, the annual CPI for July is anticipated to rise to three.4 p.c. The core CPI, which excludes risky meals and vitality costs, is forecast to climb to 4.9 p.c.

“I think we’re at the start of making the kind of progress the Fed wants to see to get inflation down to 2 percent,” mentioned Omair Sharif, founder and president of analysis and evaluation agency Inflation Insights. “It’s going to be bumpy, but we’re on the right path to getting inflation down to 2 percent without any more Fed action.”

On the financial entrance, U.S. mortgage functions decreased 3.1 p.c from one week earlier, in accordance with information launched by the Mortgage Bankers Association Survey for the week ending Aug. 4.

The U.S. 10-year Treasury price was at 4.02 p.c on Wednesday, in comparison with 4.09 p.c the earlier market day.

In late New York buying and selling, the euro was as much as 1.0975 U.S. {dollars} from 1.0960 {dollars} within the earlier session, and the British pound decreased to 1.2724 U.S. {dollars} from 1.2746 {dollars}.

The U.S. dollar purchased 143.6760 Japanese yen, larger than 143.3690 Japanese yen of the earlier session. The U.S. dollar rose to 0.8773 Swiss francs from 0.8756 Swiss francs, and it rose to 1.3417 Canadian {dollars} from 1.3416 Canadian {dollars}. The U.S. dollar fell to 10.6838 Swedish Krona from 10.7000 Swedish Krona.