Forex
Home›Forex›Major Pairs›US Dollar slips after softer CPI, boosting EUR/USD and…
US Dollar slips after softer CPI, boosting EUR/USD and gold
The US Dollar Index fell about 0.4% to 100.90 as June CPI cooled to 3.5% year over year, with gold up about 1.3% toward $4,053.
FXStreet reports the US Dollar Index, DXY, fell around 0.4% to 100.90 on Tuesday after softer-than-expected US inflation data reduced demand for the US dollar.
The newsletter pointed to June CPI declining 0.4% month over month and slowing to 3.5% year over year, while core CPI was unchanged monthly and eased to 2.6% annually. Chicago Fed President Austan Goolsbee said the inflation report was “surprisingly benign,” adding that he would want more months of similar readings before feeling comfortable, rather than overreacting to a single print.
With broad dollar weakness, EUR/USD rose around 0.4% toward 1.1420 and GBP/USD gained about 0.3% toward 1.3390. USD/JPY was down roughly 0.2% toward 162.20, while the dollar also weakened versus AUD/USD, which rose about 1.0% toward 0.6970, supported by higher commodity prices.
The dollar move also coincided with stronger commodities, with West Texas Intermediate oil up about 2.1% toward $79.60 amid renewed geopolitical concerns after President Donald Trump announced another blockade affecting vessels traveling to and from Iranian ports. Gold was up about 1.3% toward $4,053, supported by the weaker dollar and softer inflation.
Latest closeGold $4,157.80 ▲0.4%|EUR/USD 1.122 ▼0.3%|USD/JPY 157.84 ▼0.3%