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U.S. Dollar Falls on Continued Fed-Driven Momentum
Friday, 12 July 2019 15:28 WIB | CURRENCIES | Indeks DolarDolar AS

The U.S. dollar extended losses made earlier this week on continued Fed-driven momentum.

The U.S. dollar index that tracks the greenback against a basket of other currencies slipped 0.1% to 96.532 by 1:10 AM ET (05:10 GMT).

Data from the Labor Department that showed an increase in inflation and lower-than-expected initial jobless claims failed to lift the dollar today. However, the data dampened financial market expectations of a more aggressive 50 basis point cut at the Fed's July 30-31 meeting.

The AUD/USD pair and the NZD/USD pair both traded 0.4% higher.

The USD/JPY pair fell 0.1% to 108.32.

The USD/CNY pair inched up 0.1% after U.S. President Donald Trump criticized China did for not buying more American farm products. He claimed that China had agreed to do so in a meeting last month, although that claim was never formally confirmed by the Chinese side.

Source: Investing.com

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