Dollar Near Two-Month Trough as US Inflation Data Awaited
A weaker jobs report and softer rate expectations have pushed the dollar lower as traders await core CPI for clues on the Federal Reserve.
- The dollar index hovered near a two-month low at 99.6 on Monday as investors awaited this week's inflation data for clues on the Federal Reserve's interest rate path.
- Data released on Friday showed the U.S. economy unexpectedly shed jobs in July, with prior two months revised sharply lower, cooling expectations for a Federal Reserve rate hike next month.
- A consensus estimate calls for core CPI to rise 0.2% month-on-month in July, lifting the annual rate to 2.5% and extending gradual moderation in inflation.
- Market participants scaled back the chance of a September rate increase to around 44%, down from 67% a week ago, while benchmark 10-year Treasury yields fell.
- Persistent budget deficits and rising interest costs, which accounted for roughly $78 billion of increased spending, suggest rates may remain higher for longer despite near-term inflation moderation.
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Rupee inches up against US dollar
The Pakistani rupee extended its marginal gains against the US dollar on Monday. The local unit closed the day at Rs277.70, a gain of Re0.01 against the greenback. On Friday, the Pakistani rupee settled at 277.71 against the dollar. The inflow of overseas workers’ remittances into Pakistan stood at $3.631 billion in July 2026, the State Bank of Pakistan (SBP) data showed on Monday. In terms of growth, remittances increased by 4.5% on a month-on-…
Inflation report to give new insight on the cost of living in America
The Labor Department releases a new report on inflation this week. It's higher than many would like, and with a sluggish job market, most people's paychecks aren't keeping pace with rising prices.
Channel News Asia
Dollar near two-month trough as US inflation data awaited
HONG KONG, Aug 10 : The U.S. dollar hovered near a two-month low against major currencies on Monday as investors awaited this week's inflation data for clues on the Federal Reserve's rate path.The euro edged higher to $1.1558, hovering near its strongest level since mid-June, while sterling was steady at $1.3
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