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U.S. Dollar Dips Ahead Of Key Inflation Data

2024-06-07MyfxbookMyfxbook
The U.S. dollar saw some strength overnight but has moved to the downside over the course of trading on Thursday.
U.S. Dollar Dips Ahead Of Key Inflation Data

(RTTNews) - The U.S. dollar saw some strength overnight but has moved to the downside over the course of trading on Thursday.

Currently, the U.S. dollar index is down 0.30 points or 0.3 percent at 104.80 after reaching a high of 105.43.

The greenback is trading at 136.67 yen versus the 136.62 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is valued at $1.0557 compared to yesterday's $1.0506.

The dollar has moved lower ahead of highly anticipated reports on producer and consumer price inflation due on Friday and next Tuesday, respectively.

The Federal Reserve is widely expected to raise interest rates by 50 basis points next week, but the data could impact the outlook for future rate hikes.

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