BUSINESS US dollar slips ahead of key inflation report


US dollar slips ahead of key inflation report


07:23, November 09, 2022

NEW YORK, Nov. 8 (Xinhua) -- The U.S. dollar weakened in late trading on Tuesday as market participants awaited a key U.S. inflation report.

The dollar index, which measures the greenback against six major peers, fell 0.44 percent to 109.6390.

In late New York trading, the euro was up to 1.0077 U.S. dollars from 1.0028 dollars in the previous session, and the British pound increased to 1.1537 U.S. dollars from 1.1533 dollars in the previous session.

The U.S. dollar bought 145.55 Japanese yen, lower than 146.56 Japanese yen of the previous session. The U.S. dollar was down to 0.9858 Swiss francs from 0.9878 Swiss francs, and it fell to 1.3438 Canadian dollars from 1.3492 Canadian dollars. The U.S. dollar fell to 10.7513 Swedish Kronor from 10.8191 Swedish Kronor.

The October U.S. consumer price index, a popular measure of inflation closely followed by financial markets, is slated for release on Thursday.

Last week, the U.S. Federal Reserve raised benchmark interest rates by 75 basis points for the fourth consecutive meeting, and warned it still had "some ways to go" in its efforts to tame inflation.

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