US dollar still close to bottom despite US economic reports

Posted 12 January, 2018

Although awaited data on US retail and inflation was largely positive on Friday, the US dollar has not improved vs the majors and keeps staying at the bottom over the past 4 months.

The consumer price index increased 0.4% m-o-m in December, as DOC reports reads.  

Retail sale index (excluding vehicles sales) showed a similar rise over the period under review, which was in line with the forecasts.  

Consumer price index improved 0.1% m-o-m and 2.1% y-o-y in December.  

The US Dollar Index slipped 0.56% to 91.15 but remained close to the 4-month bottom of 91.03 detected earlier in the day.

Euro and sterling progressed vs US dollar: EUR-USD increased 0.80% to 1.2136 and GPB-USD – 1.14% to 1.3686.

Euro keeps getting support from the European Central Bank minutes.  

At the same time, Japanese yen showed opposite dynamics. The USD-JPY pair went up 0.22% to 111.52. USD-CHF dipped 0.39% to 0.9721.

Some weakening was also recorded in AUD-USD and NZD-USD – 0.49% down to 0.7851 and 0.55% down to 0.7221 respectively.  

USD-CAD added 0.24% coming to 1.2549.

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