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Dollar strengthens against most major currencies after softer PCE

The dollar rose against six of seven major currencies, with the only exception being sterling, which climbed 0.26% versus the greenback.

Reported · Written up by our desk · Major Pairs

Softer U.S. inflation data gave markets early support, but by the end of the session the dollar had strengthened against most major currencies, according to a ForexLive FX news wrap.

The outlet said Treasury yields finished higher, with the 10-year yield ending at 5.29%, while the stock market’s gains were concentrated in the Nasdaq.

In the economic backdrop, August PCE inflation came in below expectations, second-quarter growth was revised higher, and a larger goods trade deficit contributed to a sharp downgrade to the Atlanta Fed’s third-quarter growth estimate.

For FX specifically, the dollar closed up versus six of seven major currencies, with sterling as the exception, up 0.26% against the greenback.

Latest closeNasdaq Comp. 26,861.06 ▲0.2%

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