LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

Dollar languishes near 10-month low, kiwi tumbles after soft inflation

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Tue, Jul 18, 2017
06:09 am
Reuters

The U.S. dollar wallowed near a 10-month low against a basket of major currencies on Tuesday, pressured by uncertainty over the pace of the Federal Reserve`s policy tightening while weak New Zealand inflation data knocked the kiwi currency.

The dollar`s index against a basket of six major currencies <.dxy> sank to a 10-month low of 95.018 on Monday and was last at 95.156 in early Asian trade.

From its 14-year peak of 103.82 touched on Jan. 3, it has lost 8.4 percent.

Friday`s weak reading on U.S. inflation and retail sales fanned speculation that the Fed may not have justification for another rate hike by the end of this year, despite policymakers` projection for such a move.

Money market instruments are now pricing in less than 50 percent chance of a rate increase during the rest of the year.

In contrast, central bank policymakers in the euro zone, the UK and Canada have recently signalled they could adjust their policies, with the Bank of Canada raising rates last week for the first time since 2010.

"A lot of countries are catching up with the U.S. in terms of tightening in monetary policy. So it is natural that the dollar is losing its advantage," said Yukio Ishizuki, senior currency strategist at Daiwa Securities.

The euro held firm at $1.1478, clinging close to its 14-month high of $1.14895 touched on Wednesday.

The European Central Bank is expected to keep its policy on hold at its rates review on Thursday while many investors expect it to signal a reduction of its stimulus in the following policy meeting in September.

The dollar fetched 112.56 yen , having lost steam after hitting a near four month high of 114.495 a week ago.

The New Zealand dollar slipped 0.6 percent to $0.7278 after data showed consumer price inflation was flat in the second quarter, below the 0.2 percent expected by analysts in a Reuters poll, and sharply lower from the 1.0 percent posted in the first quarter.

The Australian dollar traded at $0.7795, after having hit a two-year high of $0.7840 on Monday, supported by data showing robust economic growth in China.

China`s economy expanded at a faster-than-expected 6.9 percent clip in the second quarter, setting the country on course to comfortably meet its 2017 growth target.

The data gave a boost to commodity prices, with copper hitting four-month highs.

The Canadian dollar scaled a 14-month high of C$1.2627 on Monday before easing a tad on weak Canadian home sales data. It last stood at C$1.2694 per U.S. dollar .

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:

LATEST NEWS

CBSE class 10 promotion criteria, class 12 board exam dates and will ICSE Class 10, 12 exams be postponed?—All you need to know

SIP stock with Anil Singhvi: Market Guru gives 5 reasons why you should have this stock in your portfolio

Gold price today 16-0-2021: Rates to hover in the range of Rs 46,850-Rs 47,450, says Motilal Oswal

HDFC Securities pegs 14800 target on Nifty, Immediate support is at 14520

Wipro, Auto Stocks, Insurance Stocks to Quess Corp - here are top Buzzing Stocks today

Taarak Mehta Ka Ooltah Chashmah fee per episode: Dilip Joshi, Munmun Dutta, Shailesh Lodha, Mandar Chandwadkar, Amit Bhatt—how much they earn

Stocks to buy with Anil Singhvi: Here are Vikas Sethi’s top two picks today for good returns

Alert! WhatsApp status flaw allows stalkers to track users online? Check all details here

Delhi curfew e-pass update: How to apply for e-pass on delhi.gov.in website, timings and more

UPSC EPFO 2021: Admit card for the exam released at upsc.gov.in - check exam date and everything you need to know before appearing for the exam

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved