Wall Street focuses on banking deposits as PacWest struggles, while Western Alliance outperforms Inflation data continues to support higher for a little long
KUALA LUMPUR: The ringgit opened higher against the greenback for the third consecutive day as the US dollar had slipped following a surprising decline in the United States’ (US) producer price index (PPI) in March, said an analyst.
The Canadian dollar climbed against its major counterparts in the European session on Friday, as oil prices rose on receding concerns about inflation and further monetary tightening by the Federal Reserve.
The U.S. dollar was lower against its major counterparts during the European session on Thursday, as a bigger than expected slowdown in consumer inflation strengthened expectations that the Federal Reserve's hiking cycle may be nearing its end.
Reflecting a steep drop in energy prices, the Labor Department released a report on Thursday showing an unexpected decrease in U.S. producer prices in the month of March.