|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    25th of February 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Economy News feed Economy News

Investment News feed Investment News

All Financial News feed All Financial News

US dollar weaker on data

Bookmark and Share

by Elaine Frei

The US dollar was weaker on Tuesday on weak new economic data that analysts believe will decrease the chance of interest rates being raised in September. Producer price inflation was up only 0.1 percent in July, less than had been expected, with core inflation actually down 0.3 percent. In addition, the Empire State manufacturing survey dropped from 15.6 in the previous survey to 10.3 in the latest data. These two reports outweighed a report showing that net inflows were at $75.1 billion in June, more than covering the June trade deficit of $64.8 billion.

At midday in New York, the greenback was 0.3 percent lower against sterling and the Canadian dollar, to $1.8947 and C$1.1226 respectively, while it had fallen 0.6 percent versus the euro to $1.2784 and had declined by the same percentage to ¥115.96 in relation to the Japanese yen. In addition, the US dollar dropped 0.7 percent to the Australian dollar to $0.7647.

The yen, meanwhile, fell to an all-time low against the euro at ¥148.61. Also in Asian currencies, the Chinese renminbi lost 0.28 percent to the US dollar to sit at Rmb8.0015. It was the renminbi’s biggest one-day decline since last year’s revaluation and very close to the 0.3 maximum movement permitted in a day.

Discuss this in the Finance Markets forums

Story link: US dollar weaker on data

News posted: August 15, 2006

Financial Services:

Related financial stories to: US dollar weaker on data:
Previous: «
Next: »

Visited 3058 times, 1 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.