Dollar Struggles Ahead of Key Data Release

Getty Images

Getty Images

The dollar slipped versus a basket of currencies on Friday after data showed USA consumer prices rose less than expected in September, pointing to muted inflation that could worry Federal Reserve officials who have been engaged in a vigorous debate on the United States inflation path.

The Australian dollar increased to $0.7785 from $0.7783. On Thursday, economic data showed that producer prices increased 0.4% last month on a year-over-year basis.

The dollar index, which measures the greenback against six major peers, was down 0.30 per cent at 93.008 in late trading.

Maria Chappelle-Nadal, censured Missouri state senator, compares Trump to Hitler
She told The Associated Press that she posted the meme because of his tweets on Puerto Rico earlier on Thursday. Louis criticized Chappelle-Nadal's latest social media post in tweets of their own Thursday.

Building expectations of a rate hike this year have limited the dollar's losses.

The dollar fell to 111.7 Japanese yen, its lowest since September 26. Financial markets have priced in a roughly 88 percent chance of a rate hike in December, according to CME Group's FedWatch tool.

While the Fed's policy is still uncertain and while investors are hopeful of a hawkish policy change, the Bank of Japan has reported that they intend to maintain the current ultra-loose policy.

Heat and drought led to the largest recorded spike in carbon levels
"These three tropical regions released 2.5 gigatonnes (a billion tonnes) more carbon into the atmosphere than they did in 2011". These increases in atmospheric carbon dioxide were 50 percent larger than the average increase seen in recent years.

Fed Chair Janet Yellen has repeatedly acknowledged since the meeting that there is rising uncertainty on the path of inflation, which has been retreating from the Fed's 2 percent target rate over the past few months.

The dollar got some support versus the yen on Thursday when media polls showed Japanese Prime Minister Shinzo Abe's ruling bloc could keep its two-thirds "super" majority in an October 22 lower house election, reassuring investors that his "Abenomics" programme of yen-weakening easy monetary policy, fiscal spending and promised structural reforms would continue.

In late NY trading on Wednesday, the euro increased to $1.1856 from $1.1807 in the previous session, and the British pound increased to $1.3218 from $1.3204 in the previous session, Xinhua news agency reported.

Japan Kobe Steel crisis expands
However, Kobe Steel's president, Hiroya Kawasaki, said he did not expect product recalls because of the faked inspections data. Planes, trains and automobiles - Kobe Steel's fake product data scandal has now touched every major form of transportation.

Latest News