© Reuters. US dollar coins in an illustrative photo taken on July 17, 2022. Photo: Dado Rovic/Reuters.
LONDON/NEW YORK (Reuters) – The day fell on Monday as investors expected a decline in the US consumer price index and a slower pace of interest rate hikes following the Federal meeting Reserve on Wednesday.
Consumer price inflation data for November is due out on Tuesday and the core inflation reading, which excludes food and energy prices, is expected to rise to 6.1%, down from 6.3% in October.
In late morning trading, it rose 0.1% against the dollar to $1.0546.
The dollar has not changed much against 0.9348 Swiss francs.
But the dollar rose against the yen by 0.5% to 137.24 Japanese yen.
The dollar index, which measures the value of the greenback against six major currencies, fell 0.1% to $104.92.
This week is one of the busiest for macroeconomic releases since the beginning of the year, as four major central banks hold their final policy meetings for the year, as well as consumer inflation data from the US which could be useful for determining the outlook for US interest rates and the dollar.
The US Federal Reserve, the European Central Bank, the Bank of England and the Swiss National Bank will make interest rate decisions.
The dollar briefly rose 0.5% against the pound after data showed the British economy recovered in October after a bank holiday for Queen Elizabeth’s funeral.
In recent trading, the pound rose 0.2% to $1.2207 and was roughly unchanged against the euro at 86.03 pence.
(Prepared by Ali Khafaji and Muhammad Ali Farag for the Arab Bulletin – Edited by Mustafa Saleh)
