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US Dollar Declines vs. Other Majors After CPI Miss, Gains vs. Yen

September 13, 2018 at 14:41 by Vladimir Vyun

US dollar banknotes and coinsThe US dollar was broadly lower against its most-traded rivals today following the release of a worse-than-expected inflation report and the improvement of the market sentiment. The currency managed to gain on the Japanese yen, though.

The Consumer Price Index rose 0.2% in August, the same as in July. Experts were anticipating a slightly faster growth by 0.3%. The growth of the core CPI also missed expectations, slowing from 0.2% in July to 0.1% in August.

The seasonally adjusted number of unemployment claims slipped a bit from 205,000 to 204,000 last week instead of rising to 210,000 as analysts had predicted. It was the lowest level since December 1969. But that had little impact on the dollar.

The greenback also fell on reports that the United States and China are going to resume negotiations, attempting to avoid trade wars. While the news helped riskier currencies, it hurt the safer ones, including the US dollar.

EUR/USD climbed from 1.1626 to 1.1687 as of 14:32 GMT today. GBP/USD advanced from 1.13040 to 1.3099. At the same time, USD/JPY rallied from 111.24 to 111.87.

If you have any questions, comments or opinions regarding the US Dollar, feel free to post them using the commentary form below.

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