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Published on 12/09/2020 9:04:53 AM | Source: IANS

US dollar edges down amid CPI data

Posted in Currency Top News| #US dollar #Currency News #CPI

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The US dollar weakened modestly in late trading on Friday as market participants digested the newly-released US consumer price numbers.

The dollar index, which measures the greenback against six major peers, decreased 0.01 per cent to 93.3330.

In late New York trading, the euro was up to $1.1830 from $1.1824 in the previous session, and the British pound was down to $1.2791 from $1.2798 in the previous session. The Australian dollar increased to $0.7274 from $0.7266, Xinhua reported.

The US dollar bought 106.11 Japanese yen, unchanged from the previous session. The US dollar was down to 0.9096 Swiss franc from 0.9100 Swiss franc, and it was up to 1.3193 Canadian dollars from 1.3178 Canadian dollars.

On the data front, US Consumer Price Index increased 0.4 per cent in August after rising 0.6 per cent in July, the US Bureau of Labor Statistics reported on Friday. Economists polled by MarketWatch had forecast a 0.3-per cent advance.

The all items index climbed 1.3 per cent for the 12 months ending August, reflecting that overall inflation remains quite low.