Forex

Dollar backs off 13-month peak ahead of US inflation data and Fed minutes

2021-10-13 12:16:17 GMT (Economies.com)

The US dollar fell against its peers on Wednesday, and gave up its 13-month peak hit yesterday on profit-taking, and ahead of key US inflation data, and the release of the US Fed meeting minutes.

 

The dollar index fell more than 0.25% to 94.25 points, after opening at 94.51 points, and hit a high at 94.53 points.

 

The index gained 0.2% yesterday, the second straight daily gain, and hit its 13-month high of 94.56 points.

 

The 10-year US Treasury yield fell 0.5% today, deepening losses for the second straight day, and pulled back further from a 4-month high of 1.636%, which weighs down on demand for the greenback.

 

At 12:30 GMT, the US consumer price index is expected up by 5.4% y/y in September from 5.3% in August, and the monthly reading is expected at 0.3% unchanged from the previous reading.

 

And by 18:00 GMT, the Federal Reserve will release the minutes of its last September's meeting, during which the central bank hinted the possibility of starting taper the bond-buying program soon.

More News

Risk Disclaimer : Enzious Limited would like to remind you that the data provided in this site is not necessarily in real time or accurate. All stock prices, indices, futures and foreign exchange rates are not provided by exchanges but by market makers, so prices may not be accurate, may differ from the price of the actual market, which means that the quotes represent an indication and are not suitable for commercial purposes. Therefore Enzious Limited does not assume any responsibility for any business losses that may be incurred as a result of the use of this data.