US dollar dips on upcoming meeting of European Central Bank
The Asian session saw a weakening of the US dollar on Thursday before upcoming results of the European Central Bank meeting that are expected to entail fluctuations in the market.
During the session, the US dollar-to-yen rate was recorded at some 109.01 (0.19% down), with Australian dollar posting gains vs the US counterpart to 0.8102. The European currency rose in price by 0.14% to 1.2426 before the meeting of the European Central Bank. Insiders expect ECB will not revise interest rates and the investors are focused on the statements of ECB's head.
The US Dollar index was seen at 88.79 (0.28%) over the period under review.
The NZD-USD pair improved to 0.7375 driven by the reports of the consumer price index at 0.1% q-o-q in Q4 and 1.6% y-o-y (forecast – 0.4% and 1.9% respectively).
The greenback remained on the downward track vs the majors yesterday depressed by US finance minister's support of its weakening expressed these days.
The sterling-to-US dollar rate has gone up and is about to reach 1.5 recorded before the Brexit. Positive GBP dynamics is related to the optimism brought by bullish employment reports. The data fueled expectations of faster inflation making an increase in interest rate more real.
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