Dollar Rebounds After U.S. Consumer Price Inflation Data
April 17 2015 - 9:56AM
RTTF2
The U.S. dollar trimmed its early losses against its key
opponents on Friday, as a data showed that U.S. consumer prices
improved for second consecutive month in March.
Data from the Labor Department showed that consumer price index
edged up by 0.2 percent in March, matching the increase seen in
February. Economists had expected the index to rise by 0.3
percent.
Core consumer prices, which exclude food and energy prices, rose
by 0.2 percent for the third consecutive month. The uptick in core
prices matched economist estimates.
The annual rate of core price growth ticked up to 1.8 percent in
March from 1.7 percent in February. The core price growth is more
closely watched by the Federal Reserve.
Traders now await upcoming report on U.S. consumer sentiment,
with economists expecting a reading of 94 in April, up from 93 last
month.
The greenback has been lower this week, as a string of weak data
arose uncertainty over the timing of the Federal Reserve's rate
hike. On Thursday, the greenback dropped 0.76 percent against the
franc, 0.13 percent against the yen, 0.72 percent against the euro
and 0.61 percent versus the pound.
The greenback recovered to 0.9563 against the franc and 1.0733
against the euro, off early 2-week low of 0.9493 and a 9-day low of
1.0848, respectively. The greenback is likely to find resistance
around 0.96 against the franc and 1.05 against the euro.
The greenback reversed from early more than a 4-week low of
1.5052 against the pound, new 3-week low of 0.7842 against the
aussie and near a 3-month low of 0.7740 against the kiwi, edging up
to 1.4968, 0.7766 and 0.7658, respectively. If the greenback
extends rise, it is likely find resistance around 1.48 against the
pound, 0.76 against the aussie and 0.75 against the kiwi.
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