Forex
Home›Forex›Major Pairs›Dollar index slides for a fourth day ahead of key US i…
Dollar index slides for a fourth day ahead of key US inflation data
The US Dollar Index was around 98.70, and attention centers on CPI and PPI releases that could shift expectations for the Fed ahead of its September 15-16 meeting.
The US Dollar Index, which tracks the dollar versus six major currencies, fell for a fourth straight day and traded around 98.70 during Asian hours, according to FXStreet.
Traders are focused on upcoming US inflation releases, with Producer Price Index data due Thursday and Consumer Price Index data due Friday, both seen as potential signals for the Federal Reserve's monetary policy outlook ahead of its September 15-16 meeting.
After recent stronger US jobs data, markets increased expectations for a rate hike, with the CME FedWatch Tool indicating more than 60 percent odds for an increase at the September meeting.
At the same time, a Reuters poll of economists suggested the Fed will hold rates steady at its September meeting and keep them unchanged for the rest of the year, with strategists also pointing to cooled investor risk appetite and the impact of higher global yields on bond flows.
Latest closeDollar index 98.78 ▼0.1%