Mumbai, Sept. 12 -- The dollar index continues to linger around a seven week low on Friday, heading for a half percent decline for the week. Growing bets for a September rate cut are weighing on the greenback although safe haven demand amid rising tensions in Middle East is limiting downside in the currency. The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is recovering its recent losses and trading around 97.21 during the Asian hours on Friday, ahead of the release of the University of Michigan consumer sentiment index due later in the day. Meanwhile, US consumer price inflation rose 2.9% year-over-year in August, as expected, coming in higher than 2.7% in July. CPI inflation climbe...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.