US Dollar Fall Against Major Currencies
- Trade Magnates Team
- Oct 13, 2017
- 1 min read
Trade Magnates -The dollar fell against major currencies on Friday after unexpected inflation data increasing the chances of a December rate increase. The U.S. Labor Department said on Friday its Consumer Price Index rose 0.5% last month after advancing 0.4% in August. While expectations were indicating at 0.6% rise.
James Bullard, Louis Fed President, warned yesterday that raising hikes should stop until inflation results are improved. With the Fed officials urging the central bank to pause the rate increases, expectations of a December hike are now lower.
The Dollar had depreciated against the Sterling 2 week high after falling in the last session because of Brexit negotiations being on hold and reached a deadlock as declared by negotiators. The pound rose to 1.3304$.