Thu, 08 Jun 2023

U.S. dollar slips ahead of key inflation data

31 Mar 2023, 06:05 GMT+10

NEW YORK, March 30 (Xinhua) -- The U.S. dollar weakened in late trading on Thursday as market participants looked ahead to a key U.S. inflation report.

The dollar index, which measures the greenback against six major peers, decreased 0.48 percent to 102.1516.

In late New York trading, the euro was up to 1.0904 U.S. dollars from 1.0843 dollars in the previous session, and the British pound was up to 1.2388 U.S. dollars from 1.2314 dollars in the previous session.

The U.S. dollar bought 132.44 Japanese yen, lower than 132.67 Japanese yen of the previous session. The U.S. dollar decreased to 0.9138 Swiss francs from 0.9190 Swiss francs, and it fell to 1.3519 Canadian dollars from 1.3570 Canadian dollars. The U.S. dollar fell to 10.3649 Swedish Kronor from 10.4090 Swedish Kronor.

The February U.S. personal consumption expenditures price index, the Federal Reserve's preferred measure of inflation, is slated for release on Friday.

The U.S. currency has come under pressure in March, as turmoil in the banking industry led investors to scale back the likely peak in U.S. interest rates.

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