Dollar dips ahead of key US inflation data

Published by
Reuters UK

By Rae Wee SINGAPORE (Reuters) – The U.S. dollar slipped on Wednesday ahead of a closely-watched inflation reading later in the day that will provide clues on the path of Federal Reserve interest rate hikes. Following last week’s solid U.S. jobs data, all eyes are now on the inflation report, with currency moves subdued ahead of the release. Sterling rose 0.04% to $1.2432 while the euro was last 0.1% higher at $1.0924, with both currencies some distance away from their one-week lows hit on Monday. Against a basket of currencies, the U.S. dollar index fell 0.05% to 102.07. “It will be a bit lik…

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