The dollar slipped against other majors such as the euro and yen amid higher US consumer price data, with inflation likely to pick up again, Report informs referring to the auction data.
The euro against the dollar rose to $1.0975 per euro from the previous close of $1.0954, the dollar against the yen fell to 143.13 yen from 143.37 yen. The dollar index (the exchange rate against a basket of currencies of six US trading partners) decreased by 0.14%, to 102.38 points.
Investors are waiting for the release of data on inflation in the US. The Labor Department of the country will publish this information on August 10. Analysts predict that in July, inflation in the country accelerated to 3.3% y/y from 3% a month earlier.
This statistic may also prompt investors to evaluate the results of a long cycle of monetary tightening by the US Federal Reserve and suggest further moves by the regulator, whose inflation target is 2%. According to CME Group, 86.5% of analysts expect the regulator to keep the discount rate at the current level of 5.25-5.5% in September. The rest predict a minimal increase.