Dollar edges down after inflation data, ahead of FOMC

SourceYahoo News
SectorEconomy
CountryMiddle east

Oops!Something went wrong.Please try again later.ReutersJune 10, 2021, 12:36 PM·3 min readOops!Something went wrong.Please try again later.

By Sinéad Carew

NEW YORK (Reuters) – The dollar index was down slightly on Thursday after alternating between losses and gains earlier in the session as investors digested elevated U.S. inflation and European Central Bank commentary while eyeing the U.S. Federal Reserve’s next meeting.

After adopting a wait-and-see attitude all week, sucking volatility from the market and leaving major currencies mostly range-bound, Thursday’s developments appeared to add little new direction to currency markets.

Earlier in the day, the ECB raised its growth and inflation views but promised to keep ample stimulus flowing, fearing that a retreat now would accelerate a worrisome rise in borrowing costs and choke off recovery.

Then in the United States, data showed that the number of Americans filing new claims for unemployment benefits fell last week to the lowest level in nearly 15 months, while consumer prices increased further in May as the pandemic’s...read more...