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US Dollar holds firm as markets await inflation data for Fed clues
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Business Line - Home
The dollar nudged a little higher in Asian trade on Wednesday, receiving limited additional strength after renewed attacks on shipping in critical waterways in the Middle East, as currency markets anxiously awaited the release of inflation data later in the global day.
The Australian dollar was down 0.1% at $0.7056.
“In fact, the market is already discounting a mild inflation landing.”
The U.S. dollar index, which measures the greenback’s strength against a basket of six currencies, was up 0.1% at 99.89.
In cryptocurrencies, bitcoin was flat at $63,721.02 while ether was 0.3% higher at $1,887.13.