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U.S. Dollar Defensive After Inflation Data
CANBERA (dpa-AFX) - The U.S. dollar lost ground against its major counterparts in the Asian session on Wednesday, as U.S. inflation fears eased after the latest data showed that the pick up in consumer prices was not swift enough to necessitate a policy change by the Federal Reserve.
Overnight data showed that U.S. consumer price index rose 0.6 percent in March after rising by 0.4 percent in February. Economists had forecast an increase of 0.5 percent.
Tuesday s inflation data came in only slightly higher than expected, validating accommodative stance from the U.S. Federal Reserve.
<div class="at-above-post addthis tool" data-url="https://www.metro.us/dollar-slips-to-three-week/"></div>TOKYO (Reuters) – The dollar fell to multi-week lows against the euro and the yen on Wednesday, after an uptick in a U.S. consumer price gauge did not spark wider fears about accelerating inflation and the Federal Reserve’s tapering, pushing down U.S. bond yields. The dollar ticked down 0.2% to 108.80 yen, touching its lowest […]<! AddThis Advanced Settings above via filter on get the excerpt ><! AddThis Advanced Settings below via filter on get the excerpt ><! AddThis Advanced Settings generic via filter on get the excerpt ><! AddThis Share Buttons above via filter on get the excerpt ><! AddThis Share Buttons below via filter on get the excerpt ><div class="at-below-post addthis tool" data-url="https://www.metro.us/dollar-slips-to-three-week/"></div><! Add
Gold Slips As Yields Rebound From Three-week Low
WASHINGTON (dpa-AFX) - Gold prices edged lower on Wednesday as Treasury yields rose, offsetting the dollar s weakness.
Spot gold slipped 0.1 percent to $1,742.39 per ounce while U.S. gold futures were down 0.3 percent at $1,742.50.
U.S. yields moved higher after marking a fresh three-week low on data showing a tamer-than-expected increase in U.S. underlying inflation.
Overnight data showed that U.S. consumer prices rose 0.6 percent in March after rising by 0.4 percent in February. Economists had forecast an increase of 0.5 percent.
Philadelphia Fed Bank President Patrick Harker said on Tuesday that even though the economic situation is improving, recovery is still premature, and there s no cause to withdraw support yet.
Dollar at three-week low on tamped down fears over inflation Hideyuki Sano ,
By Hideyuki Sano
TOKYO (Reuters) - The dollar stood near three-week lows against the euro and the yen on Wednesday, after a larger-than-expected uptick in a U.S. consumer price gauge did not spark wider fears about accelerating inflation and the Federal Reserve s tapering.
The dollar traded at 109.03 yen, near its lowest since late March, while the euro popped up to $1.1948, hitting its highest level since late March, as it extended a rally from a five-month low of $1.1704 set on March 31.
While the dollar was stuck near its familiar ranges against most other currencies, the dollar s index against a basket of six major units hit a three-week low of 91.791 and last stood at 91.831.