© Reuters. US dollar banknotes in an illustration taken on March 10, 2023. Photo: Dado Ruvic/Reuters.
TOKYO (Reuters) – The dollar settled near the average price range it recorded this week against a basket of major currencies, as investors await key inflation data in the United States due later on Thursday, which could influence the course of the Fed’s monetary policy. Federal Reserve (US Central Bank).
The index, which measures the US currency against six major currencies, including the yen, did not change significantly and reached 102.50 in early Asian trading, after it ranged between 101.98 and 102.80 approximately this week.
And the dollar benefited from the demand for it as a safe haven in the wake of a continuous series of weak Chinese economic data, while expectations are increasing that the US economy will record a slight decline in light of the easing of price pressures.
Wall Street economists expect the consumer price index to rise 4.8 percent year-on-year in July.
There was also little change in the dollar’s exchange rate against the yen at 143.79 yen, after earlier hitting its highest level since July 7 at 143.90 yen.
The euro settled roughly at $1.09695.
It rose by about 0.1 percent to 7.2235 per dollar in foreign transactions.
Data on Wednesday showed that consumer prices in China fell last month, after a report the previous day indicated a bigger-than-expected decline in both imports and exports.
(Prepared by Marwa Gharib for the Arabic Bulletin)
2023-08-10 03:58:00
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