2023-06-07 15:33:39
The dollar fell against the euro and the yen, on Wednesday, as investors await the release of US inflation data for May, next Tuesday, and the Federal Reserve (US central bank) decision on interest rates the next day.
The US central bank is expected to keep interest rates unchanged while assessing the impact of raising interest rates more than once.
Consumer price inflation data on Tuesday is also expected to show prices rose 0.30 percent in May.
“We expect a reasonable degree of consolidation ahead of the Fed’s decision next week,” said Bipan Ray, head of North American foreign exchange strategy at CIBC Capital Markets in Toronto. “This CPI number will be important to the Fed’s decision as well.” “.
The euro rose in the latest trading 0.30 percent against the dollar to 1.0726 dollars, and the dollar fell 0.22 percent to 139.33 Japanese yen. The dollar index fell 0.29 percent to 103.77, according to Archyde.com data.
The Canadian dollar rose after the Bank of Canada raised the main overnight interest rate to 4.75 percent, the highest level in 22 years.
The dollar fell in the latest trading 0.39 percent against the Canadian dollar to 1.3350 Canadian dollars.
The Australian dollar’s gains continued after the Reserve Bank of Australia raised interest rates a quarter point to the highest level in 11 years on Tuesday.
The Australian dollar rose in the latest trading 0.42 percent to $ 0.6700.
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