Dollar Up, but Near Five-Month Low Ahead of U.S. Inflation Data By Investing.com

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© Reuters. By Gina Lee Investing.com – The dollar was up in Asia on Thursday morning but stayed near a five-month low as the focus continues to be on US inflation data and one both due later in the day. The dollar, which tracks the greenback against a basket of other currencies, rose 0.07% to 12:13 at 90: 183 p.m. ET (4:13 p.m. GMT). The pair fell 0.05% to 109.56. The pair rose 0.05% to 0.7733 and the pair rose 0.06% to 0.7183. The pair fell 0.01% to 6.3856. The Governor of the People’s Bank of China forecast at the Lujiazui Forum in Shanghai that consumer inflation will stay below 2% in 2021, below the government’s official target of around 3%. The economy is operating reasonably close to potential production levels and overall prices are manageable, he added. The pair lost 0.04% to 1.4112. Movements remained small as investors continued to take a wait and see approach, which also removed some market volatility. US inflation data, including May’s, are eagerly awaited after the previous month’s report said consumer prices rose in April with the largest range in 12 years. Investing.com predicts a 0.4% increase, now betting that the higher price will last longer than expected. This also calls into question the Fed’s recent insistence that inflationary pressures are temporary. Although the greenback remained tied to a tight range ahead of the data, benchmark 10-year US Treasury bond yields fell over the past week, from 1.6350% last Friday to 1.874% earlier in the Asian session. “It feels like the risk equilibrium in the US consumer price index is sloping up from consensus, which would favor a sell-off in government bonds for higher yields and, consequently, a stronger dollar … Bonds appear to be overbought,” so Pepperstone, Head of Research Chris Weston said in a note. On the frontline of central banks, investors will be on the lookout for signs that the ECB, in its monetary policy decision, is beginning to reduce its bond purchases. Although the central bank is widely believed to maintain the status quo of its policies, any signs of rejuvenation could have repercussions on the development of the euro. The single currency rose to a one-week high of $ 1.2218 on Wednesday before moving little and stayed near the $ 1.2178 level as the Asian session opened. Investors also expect the one to be presented in the following week. In the cryptocurrency space, Bitcoin held gains from its biggest rally in four months. It was last traded at the $ 37,097.02 level after rising nearly 12% on Wednesday. Disclaimer: Fusion Media advises you that the information contained on this website is not necessarily real or accurate. All CFDs (stocks, indices, futures) and forex prices are not provided by exchanges, but by market makers. Therefore, prices may not be accurate and may differ from the actual market price, which means that prices are indicative and not suitable for trading purposes. Therefore, Fusion Media is not responsible for any trading loss you may incur as a result of the use of this data, and Fusion Media or anyone involved in Fusion Media is not responsible for any loss or damage resulting from reliance on the information, including data, prices, Charts and buy / sell signals included on this website. Please inform yourself comprehensively about the risks and costs associated with trading in the financial markets, as it is one of the riskiest forms of investment.

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